HSBC lowers expected GDP and CPI forecast

GDP growth is to amount to 3.1 percent in 2014 and 3.4 percent in 2015, stated a quarterly HSBC report. The previous HSBC report predicted figures of 3.2 and 3.6 percent, respectively. "Due to weaker euro zone growth and political troubles we are lowering the forecast for GDP growth," claimed the report. Exports will most likely slow and the investment climate will be less appealing. Predictions for personal consumption may have been overrated, continued the report. The current forecast seems to be more in line with the European Commission forecast for the Polish economy. HSBC also lowered the inflation prognosis from 1.6 percent to 0.9 percent for 2015. A 75 basis point rate cut is expected going into 2015.