Locked content Currency reserves at €74.7 billion

As of the end of June 2014, the National Bank of Poland’s official reserve assets stood at €74.7billion compared to €75.5 billion at the end of May, the NBP said. When calculated in US dollars, the reserve assets were $101.9 billion compared to $102.4 billion at end-April. The NBP said that it...

Locked content CPI to remain below target – NBP report

CPI inflation in Poland is likely to remain below the 2.5-percent target throughout 2014-2016, according to the most recent inflation projection published by the National Bank of Poland on Monday. In the short term, CPI will remain low, as supported by a decline in the prices of food and energy, the...

Belka: No rush to change interest rates

The National Bank of Poland’s interest rates could only be cut if economic activity slows down significantly or is strongly expected to do so, central bank head Marek Belka told Dziennik Gazeta Prawna in an interview published on Monday.

Subsidy for young homebuyers reaches PLN 187 mln

The state-owned lender Bank Gospodarstwa Krajowego (BGK)  has released statistics regarding the government’s program supporting the purchase of new homes by young adults (Apartments for the Youth). In the first half of the current year, a total of 8,237 applications for support have been filed and P...

Locked content Poland sells bonds worth PLN 2.4 bln

Poland’s Finance Ministry sold treasury bonds maturing in 2025 worth PLN 2,419 million at an auction on Thursday, according to a news release quoted by ISBnews. It did not sell bonds maturing in 2028. The ministry sold DS0725 series bonds. The offer was originally set at between PLN 1-3 billion. Tot...

Retail trade down by 2% y/y – Eurostat

The volume of retail trade in Poland declined by 2 percent year-on-year in May 2014, according to a data release from the EU’s statistics office Eurostat on Thursday. In month-on-month terms the volume declined by 1.1 percent.

Locked content KUKE: Exports up by 8.5% y/y in May

In May Poland exported €13.297 billion worth of goods, which is 8.5 percent more than in the corresponding month last year. Compared to April, exports calculated in euro fell by 6.4 percent, according to data by export credit insurance corporation KUKE, quoted by ISBnews. Calculated in złoty, export...

Locked content Number of bankruptcies down in June

In June 2014, 76 Polish companies were officially declared bankrupt, according to a report issued by Euler Hermes on Wednesday. A year ago the June figure was 85. Throughout the first half of 2014 the recorded number of bankruptcies was 418 compared to 483 in the corresponding period of 2013. Euler ...

Locked content Interest rates remain unchanged

The National Bank of Poland’s Monetary Policy Council (RPP) left interest rates unchanged during its July sitting, according to an NBP statement issued on Wednesday. Such a decision was widely expected by economists. The reference rate remains at 2.50 percent, the lombard rate at 4.00 percent, the d...

Locked content Budget deficit at PLN 22.36 bln

Poland recorded a budget deficit of PLN 22.36 billion at the end of May 2014, according to data from the Ministry of Finance quoted by ISBnews. This stands for 47.1 percent of the total amount planned for this year. The ministry had earlier estimated the May budget deficit at PLN 22.47 billion or 47...