Rate hike unlikely despite higher inflation and wages

Most likely this will however not result in the Monetary Policy Council (RPP) raising its interest rates, as the inflation is still within its target. Positive information was also received from the labor market, as employment in enterprises increased by 3.3%, while remuneration by 5.6%. "This confirms that the economy is doing well. Costs of companies related to employees increased in real terms by 8%. It seems like companies are becoming increasingly interested in sharing with workers who are the ones behind two-digit production growth," said Bartosz Pawłowski, economist with ING. In the opinion of analysts, the increase in wages is not threatening the inflation level and should not be regarded as acting in favor of increasing interest rates. (Puls Biznesu, pp. 1, 7) M.M.