Higher car sales and salaries help retail sales but interest rate cut not expected

"Recently all data has been poor, but there are indications of improvement," said Bartosz Pawłowski, economist with ING Bank Śląski. The so-called base effect is having less of an influence on the economy and thus it will be much easier to achieve good growth results. "The main reason [for leaving rates at an unchanged level] is the fact that the Council is waiting for GDP data for Q3. Economic growth is slowly accelerating, while inflation is still low. Members of the board know that they can wait for the last cut in the cycle," said Jacek Wiśniewski, chief economist with Raiffeisen Bank Polska. (Parkiet, p. 6) M.M.