Polish MPC keeps rates flat, still sees them unchanged at least till mid-2014

By bne IntelliNews January 9, 2014

The Monetary Policy Council (MPC) has decided to keep interest rates unchanged, which is a decision in line with the expectations of all bank economists. Thus, the key reference rate is still 2.50% (after the July 25bps cut).

It also retained the wording of the key sentence of its press release virtually unchanged as compared to the December version - it now reads: "The Council maintains its assessment that NBP interest rates should be kept unchanged at least until the end of the first half of 2014."

Governor of the National Bank of Poland (NBP) and MPC chairman Marek Belka admitted that hardly anything changed in Poland's economic situation since MPC's previous sitting. In fact, the Council now expects slightly faster economic growth and slightly lower inflation, he added. All in all, there are no risks on the horizon that would necessitate a change of monetary policy, the central banker concluded.

Bank economists now expect interest rates to remain flat for at least till September of 2014, but some of them point to the turn of the year as the beginning of the policy tightening cycle. 

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

V4 leaders positive after dinner with European Commission president

The head of the European Commission Jean-Claude Juncker held talks with leaders of the Visegrad Group at a nearly three-hour dinner on October 19.  The dinner on the eve of the EU summit was ... more

Poland supports Turkey’s near-dead EU membership bid

Turkish President Recep Tayyip Erdogan received a warm welcome from his Polish peer Andrzej Duda on October 17, as Warsaw said it supported Ankara’s formally ongoing bid to become a member of the ... more

Poland claims there will be “no taboo” in talks with Erdogan

Poland will skip no touchy topics in talks with President Recep Tayyip Erdogan, visiting Warsaw on October 17, the office of President Andrzej Duda said ahead of the visit by the Turkish leader, ... more

Most Read

  1. Russia's grain harvest at 100-year high
    3 days ago
  2. Poland rises, Croatia surprises on CEE Fast 50
    6 days ago
  3. KRUK REPORT: Is Ukraine changing its Donbas policies?
    10 days ago
  4. Iraq says Russian oil deal with Kurdistan is illegal
    3 days ago
  5. Populist Ano scores heavy victory in Czech election, far right takes 11% of vote
    1 day ago
  1. Russia to bring in record breaking harvest of 127mn tonnes
    24 days ago
  2. Investors ask which Russian bank domino will be the next to topple
    1 month ago
  3. Eastern Europe’s blockchain revolution
    18 days ago
  4. INTERVIEW: de Villepin says Ukraine should declare itself neutral
    15 days ago
  5. INTERVIEW: The quiet thunder of Ruben Vardanian
    15 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss