Poland’s Monetary Policy Council (MPC) decided to formally end the tightening cycle, with interest rates cuts possible in September once conditions were met, Adam Glapinski, the governor of the National Bank of Poland (NBP), said. Glapinski held a press conference a day after the MPC decided to keep the rates unchanged for the tenth time…
Poland’s average annual consumer inflation (CPI) has a 50% chance of falling into the 11.1-12.7% range in 2023, the National Bank of Poland (NBP) has said after a meeting of the Monetary Policy Council (RPP). The country has been battling high inflation for a number of months now. In February, the Polish inflation rate hit…
In 2022, LOT Polish Airlines generated over PLN 113.7 million (EUR 25.4 million) in profits with revenues exceeding PLN 8.3 billion (EUR 1.86 billion. “The index figures achieved by LOT in 2022 allow us to view with optimism the development potential of the company,” the airline said in a press release. Last year LOT made…
The government-subsidised mortgages for the purchase of the first home will cost the state budget less than PLN 1 billion (EUR 225 million) this year, but the cost will increase to PLN 1.5 billion (EUR 340 million) in the following years, a deputy finance minister has said. Artur Sobon said he expected that this year…
Polish fuels group PKN Orlen has signed an agreement with the Austrian company Doppler for the purchase of 266 petrol stations in Austria. Under the agreement, signed on July 4, Orlen will purchase 100% of the shares of Doppler Energie GmbH, and will acquire the filling stations, which operate under the Turmoel brand. An Orlen…
Poland can expect an economic upswing in the coming months due to factors such as falling business costs, a leading economic think-tank said on July 3. The institute was commenting on Poland’s manufacturing sector purchasing managers’ index (PMI), which fell last month to 45.1 from 47.0 in May, its lowest point since November 2022. The…
Prices of consumer goods and services (Consumer Price Index, CPI) increased by 11.5% YoY and by 0.1% MoM in June, the Central Statistical Office (GUS) reported in a flash estimate on June 30. Economists polled by PAP Business estimated that June’s CPI would reach 11.7% YoY and 0.2% MoM. In May, the prices of consumer…