Locked content General government deficit seen at below 1% of GDP in 2018

The National Bank of Poland’s (NBP) forecast indicates that the general government deficit in 2018 is likely to be below 1 percent of GDP, and in 2019 it may fall slightly, according to the opinion of the Monetary Policy Council to the draft budget for 2019. “The Increase in total expens...

Locked content Interest rates remain unchanged – RPP

Poland’s Monetary Policy Council (RPP) has decided to leave the interest rates unchanged, the National Bank of Poland (NBP) informed. The NBP’s reference rate remains at 1.5 percent, the Lombard rate at 2.5 percent, the deposit rate at 0.5 percent and the rediscount rate at 1.75 percent....

Inflation is expected to grow in H1 2019

The majority of Monetary Policy Council members estimated that inflation in H1 2019 will increase, but will be close to the inflation target (2.5 percent y/y +/- 1 percentage point), according to “minutes” from the meeting published by the National Bank of Poland (NBP).

Poland’s Central Bank could hike interest rates – Żyżyński

The Central Bank of Poland could raise its benchmark lending rate if inflation rises, as is predicted, one of the Bank’s monetary policy council members Jerzy Żyżyński, told reporters on Friday. “I know the rules – if we reach the inflation target, then we will have to consider the possibility of a ...

Senate dismisses RPP’s Chrzanowski

The Senate has approval a proposal to dismiss Marek Chrzanowski from his functions as a member of the Monetary Policy Council (RPP). The vote was 47 in favor, 22 against, with two abstentions. This was essentially a formality following Chrzanowski’s resignation on Wednesday.

Locked content Sejm elects two new members to RPP

The Polish Sejm elected two new members to the Monetary Policy Council (RPP) in the early hours of Saturday morning. Prof. Grażyna Ancyparowicz from the Katowice School of Economics and prof. Eryk Łon from the Poznań University of Economics and Business received 230 and 268 votes, respectively. They...

Locked content Szczurek calls on RPP to follow its goals

The Monetary Policy Council (RPP) should carry out its statutory goals, Finance Minister Mateusz Szczurek was quoted as saying by the Polish Press Agency. “The RPP has two goals. One is the stability of prices. The other is supporting the economic policies of the government, if it does not interfere...