Poles continue to borrow and spend in April despite Feb.'s interest rate hike

"The money supply in the first 10 days of April this year increased by 0.6%," the National Bank of Poland informed the public. Apparently, February's interest rate hike has had little effect on borrowing and spending money in Poland. Poles are still taking out loans to finance cars, apartments and everyday activities. The situation has caused concern for the Central Bank, which is trying to decrease internal demand for money. As interest rates increase, Commercial banks in Poland are also incurring some of the largest debt in the country. (Prawo i Gospodarka, Apr 22-24, page 18) M.M.