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…
The Sejm, the lower house of the Polish parliament, has adopted a bill freezing natural gas tariffs in 2023 for all households and sensitive recipients at 2022 levels. The bill went through on December 1 night with 424 votes in favour and 16 abstentions, with no votes against. Under the draft legislation, the gas price…
Poland’s Purchasing Managers’ Index (PMI) rose to 43.4 points in November from 42.0 points in October, economic researcher S&P Global reported on December 1. Economists polled by PAP predicted the PMI would reach 42.8 points in November. “Manufacturing and new orders fell for another month in November, albeit the pace of decline slowed down compared…
Ratings agency Standard and Poor’s (S&P) has downgraded Poland’s economic growth forecast to 0.9% in 2023 from 1.2% forecast in September. At the same time, S&P predicts that Poland’s economic growth will accelerate to 3.2% in 2024. “Our baseline assumption is weak but still a positive GDP growth of 0.9% in 2023 versus our previous…