Poland’s current account deficit fell to EUR 549 million at the end of October, against a deficit of EUR 1.56 billion recorded at the end of September, according to central bank figures released on December 14. Market analysts expected the deficit to amount to EUR 800 million. Poland recorded a EUR 2.28-billion deficit in the…
Military equipment manufactured in Poland, especially the Piorun (Thunderbolt) air defence system, has been attracting growing interest from around the world, the CEO of the Polish Armaments Group (PGZ) has said. “Interest displayed in the purchases of Poland-made military equipment, especially the Piorun surface-to-air missiles, is huge today,” Sebastian Chwalek said, adding that talks were…
Poland’s central bank, the National Bank of Poland (NBP), does not predict a recession in the country, but economic growth may fall to zero, the central bank governor has said. At his monthly press conference on December 8 following an interest rate decision a day before, Adam Glapinski said that despite weakening sentiment, Poland should…
Poland’s Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, believes that the current interest rate level is optimal, the central bank governor has said. “The council considers the current interest rate level, which has reached 6.75% following 11 increases, as optimal,” Adam Glapinski told reporters. The RPP left rates unchanged for the third…
Inflation in Poland will remain high in the short-term, and its return to the central bank’s target band will be gradual, the Monetary Policy Council (RPP) has said in a statement after a no-change rate decision. The RPP kept interest rates unchanged for the third month in a row, leaving the main interest rate at…
The Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, has kept the reference interest rate at 6.75%. The National Bank of Poland’s Lombard rate remained at 7.25%, the rediscount rate at 6.80% and the discount rate at 6.85%, the RPP announced after its sitting on December 7. The RPP also left the deposit…
The European Commission has paved the way for EUR 3.85 billion to be invested in helping five of Poland’s coal-mining regions deal with the challenges of becoming carbon-neutral. Speaking in the southern city of Chorzow, which lies in the heartlands of Poland’s mining industry, Frans Timmermans, the EU’s climate policy chief, has said that the…