Locked content FMCG retail down by 3.5% in June

Retail trade in FMCG stores fell by 3.5 percent year-on-year in June, according to estimates from the Polish Trade Chamber (PIH). In month-on-month terms it fell by 4.2 percent. “The decline is partly due to deflation observed during the summer months of this year,” said Joanna Chilicka from PIH. It...

Locked content Bankruptcies down by 1.8% in Q2 – KUKE

There were 224 bankruptcies recorded in Poland in the second quarter of 2014, according to data from the Export Credit Insurance Corporation (KUKE) quoted by ISBnews. The figure was 1.8 percent lower than in the corresponding period of 2013. In June alone, 76 companies were declared bankrupt, reflec...

Locked content OECD’s indicator for Poland drops in May

The Composite Leading Indicator (CLI) for Poland amounted to 100.72 points in May 2014, compared to 100.77 points in April, according to data from the Organisation for Economic Co-operation and Development (OECD) quoted by ISBnews. In May 2013 the CLI was at 99.96. The CLI for the euro zone grew to ...

Locked content Chojna-Duch: Rates should be cut by 25 bps

Interest rates should be reduced by a further 25 basis points, Monetary Policy Council (RPP) member Elżbieta Chojna-Duch said in an interview with business news station TVN24 Biznes i Świat. In the case of long-term deflation, the RPP should even cut rates by 50 points, the central banker said. Choj...

Locked content Ministry sees trade deficit at €200 mln in 2014

Poland’s Economy Ministry has revised the forecast for the country’s foreign trade deficit this year and now sees it at €200 million, the Polish Press Agency reports. An earlier forecast saw the deficit at €3.5 billion. Following May macroeconomic data, the ministry maintained its forecast of total ...

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.