Rate hikes beginning around the world because of fuel prices
Norway has become the first country to raise interest rates in response to rising fuel prices, signaling a possible global shift after years of rate cuts. Other central banks, including the European Central Bank, are also considering tighter monetary policy. Poland’s central bank, led by Adam Glapiński, is monitoring the situation but remains cautious. Higher fuel costs may push up prices across the economy, yet they also reduce consumer spending power, which can slow inflation.
The National Bank of Poland says rates would rise only if inflation exceeds 3.5% and is expected to stay there. Although a summer rate increase is possible, analysts expect any tightening cycle to be short because global interest rates are already relatively high and long-term inflation pressures remain limited.
(pb.pl)
