National Bank of Poland

September 3, 2014

Poland’s record-low 2.5% interest rate was maintained.  It’s been at that level since a 25-basis point cut in July 2013, which culminated 225 basis points of easing going back to November 2012.  Analysts think a further reduction could occur as soon as next month because inflation, which is expected to run only marginally above zero this year, is far beneath the central bank’s target of 2.5%.  Poland has heavy exports to Russia and the EU, two areas that are saddled with problems, so there is also concern that Policy growth might slow.  Poland’s manufacturing PMI reading of 49.0 in August was 6.9 points below its level just six months earlier.

Copyright 2014, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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