Interest rates stay stable but stats suggest rise set to come in next two months

The Monetary Policy Council (RPP) yesterday opted not to change interest rates, but macroeconomic data show that they are likely to increase soon, most probably in June or July. "Some factors influencing inflationary pressures may be the result of the EU accession, and thus they may be temporary. More data available over the short-term may allow for a better evaluation of their impact," said Leszek Balcerowicz, the chairperson of the National Bank of Poland (NBP). The NBP earlier estimated that EU accession may at maximum push up prices by 0.9%, and according to Balcerowicz there were no signs of exceeding this level. The RPP also announced that the economic revival in the country was accelerating and thus inflationary risk is growing. It also stated that there were signs of companies increasing their investment expenditures. On the RPP's rate freeze, Deputy Prime Minister Jerzy Hausner said, "This is a very reasonable decision." (Rzeczpospolita, pp. A1, B7) M.M.