Locked content Chojna-Duch: Rates need to be cut

The National Bank of Poland’s benchmark interest rate should be cut by 50 basis points to 2.00 percent in October, Monetary Policy Council member Elżbieta Chojna-Duch told Reuters. “The Russian embargo on food exports, weakness in the economy and negative readings from the euro zone may prolong the ...

Locked content Szczurek: GDP growth will disappoint

Compared to June estimates, next year’s economic growth will be disappointing, Finance Minister Mateusz Szczurek told Polish Radio on Monday. “This is important both for the budget and for households, companies,” he said. The minister referred to the budget draft for 2015, approved by the government...
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Unemployment down to 11.7% – Labor Ministry

Poland’s registered unemployment rate amounted to 11.7 percent as of the end of August, according to an estimate published on Monday by the Ministry of Labor and Social Policy. It declined by 0.2 percentage points compared to July.

Locked content Central bank reserves at €77.4 billion

As of the end of August 2014, the National Bank of Poland’s official reserve assets stood at €77.4 billion, €98 million higher than at the end of July, the NBP said. When calculated in US dollars, the reserve assets were $102 billion compared to $103.5 billion at end-June. The NBP invests foreign cu...

Locked content Zapatero: Poland should be cautious about euro

Poland should not hurry with its efforts toward euro adoption, according to former Spanish Prime Minister José Zapatero, who spoke at the Economic Forum in Krynica. “For Spain euro adoption was a lever that led to greater liquidity and gave access to a huge market,” Zapatero said. “But the accompany...

Locked content RPP should cut rates twice – Zielińska-Głębocka

Poland’s Monetary Policy Council (RPP) should cut rates twice, in October and November, by 25 basis points each time, the council’s member Anna Zielińska-Glębocka said in an interview for TVN24 Biznes i Świat. The rate-setter believes that the RPP has received signals that the economic growth in Pol...
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Gov’t expects GDP growth to accelerate

The Polish government expects the country’s GDP to grow by 3.4 percent in 2015, then accelerate to 3.7 percent in 2016, 3.9 percent in 2017 and 4 percent in 2018, according to the draft 2015 budget framework published on Thursday.

Locked content Poland sells bonds worth PLN 3.6 bln

The Polish Ministry of Finance sold two series of treasury bonds worth a total of PLN 3.595 billion during an auction held on Thursday. Total demand stood at PLN 5.659 billion. The ministry sold WZ0124 series bonds for PLN 1.003 billion. The securities mature in January 2024. Another series of bonds...

Locked content Gov’t approves 2015 budget draft with PLN 46.08 bln deficit

The Polish government approved a draft budget law for 2015 on Wednesday. The draft stipulates for a deficit of PLN 46.08 billion. Budget revenues are expected to come in at PLN 77.48 billion in 2015. Budget expenditures are seen at PLN 81.28 billion. The government also expects a PLN 3.44 billion ne...

Locked content Retail trade down by 1.1% in July – Eurostat

The volume of retail trade in Poland declined by 1.1 percent year-on-year in July, according to data published by the EU’s statistics office Eurostat on Wednesday. In month-on-month terms retail trade inched down by 0.3 percent. Throughout the EU retail trade grew by 1 percent y/y and dropped by 0.4...