National Bank of Poland
January 11, 2017
The 1.5% central bank reference rate since a 50-basis point cut in March 2015 was decreed still appropriate in a released statement that observes slower growth last quarter, projects moderate growth this year, and attributes a rise of inflation to 0.8% as of December to “factors beyond the direct impact of domestic monetary policy.” Price growth in Poland continues to be “contained by low inflationary pressure abroad and negative output gap in the domestic economy.” Prior to November 2012, Poland’s central bank interest rate was at 4.75%. After eight cuts from then to July 2013, such had been cut to 2.5%. Two more 50-basis point cuts in October 2014 and March 2015 lowered such to 1.5%.
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