Russia’s CBR maintains key rate at 16%
15 hours ago
Poland’s core inflation, which measures price growth without food and energy, eased growth to 5.4% year on year in February (chart) after growing 6.2% y/y the preceding month, the National Bank of Poland (NBP) said on March 18.
Core inflation growth thus eased in the 11th successive month in February in line with other easing inflation indicators. CPI growth eased 1.1pp to 2.8% y/y in February, the statistical office GUS said last week.
Still, Santander Bank Polska said in a comment: “The price momentum in core inflation components – mainly in services – remains high and inconsistent with the inflation target.”
The NBP’s inflation target is 2.5%, with a deviation of 1pp either way.
The NBP is not expected to ease monetary policy soon, as it is waiting for a possible uptick in the inflation rate to arrive in the second half of the year in the wake of the government’s phasing out the cap on electricity prices and the return of the 5% VAT rate on basic foods.
The NBP is currently expected to keep rates unchanged until well in to the second half of the year, with any changes coming only after there is more clarity about the inflation rate’s trajectory following the government’s regulatory decisions.
In month-on-month terms, core inflation gained 0.5% in February, following an expansion of 0.4% m/m in January, the NBP data also showed.
Related Content
Data
Russia’s CBR maintains key rate at 16%
The board of the Central Bank of Russia (CBR) resolved to keep the key interest rate unchanged at 16% at the policy meeting on April 26, making a third meeting in a row that the rate is maintained flat.
NBU cuts rates 100bp to 13.5% on falling inflation
The National Bank of Ukraine (NBU) lowered the key policy rate by 100bp to 13.5% on April 25 and improved its inflation forecast as price pressure ease.
Turkey keeps policy rate constant at 50%
Central bank is, notably, no longer talking about building up its reserves in parallel with so-called monetary framework simplification policy.
_1713874341.png)
Slovak unemployment inched further down to 3.88% in March
There were 167,493 job applicants in March, which is at its lowest level since the end of 2019.
Poland’s industrial production disappoints in March as output declines 6% y/y
Poland’s industrial production fell 6% year on year in constant prices in March (chart), after a gain of 3.3% y/y the preceding month, unadjusted data from the statistical office GUS showed on April 22.
Most Read
-
The models are wrong, climate change is accelerating faster than predicted
2 days ago
-
Kuwait reacts angrily to being cut out of Iraq and Turkey’s transport project
1 day ago
-
European Parliament rules Russia’s presidential election illegitimate, calls Putin a "murderer"
23 hours ago
-
Russia already treating Bosnia’s Republika Srpska as an independent state
1 day ago
-
Poland in two minds over Ukraine’s efforts to bring conscription-age men home
23 hours ago
-
EU finally boosts defence investment into arms production as Ukraine runs out of ammo
1 month ago
-
Don't mention the "D" word - Ukraine
6 days ago
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
9 days ago
-
The models are wrong, climate change is accelerating faster than predicted
2 days ago
-
The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
4 days ago
-
Russia could pay off its entire external debt tomorrow, in cash
27 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
BRICS announce a blockchain-based payment system to create a common currency
29 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
1 month ago
-
Saudi Arabia to scale back plans for Neom city
16 days ago