National Bank of Poland
October 2, 2013
Narodowy Bank’s reference rate of 2.5% and all other central bank rates were left unchanged. Eight cuts between November 2012 and July 2013 totaled 225 basis points. Poland has been experiencing very weak growth(0.4% between 1Q and 2Q and 1.1% in the year to 2Q) and sub-target (ie below 2%) inflation. The reference rate is historically low. Zloty softness is a constraint against going even lower.
Copyright 2013, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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