National Bank of Poland

Nervous Market Tone Continuing

October 2, 2019

Investors remain leery that policymakers are up to the task of containing the slowdown of global growth. Monetary stimulus has grown old and less effective, while fiscal support is largely missing in action. The trade war motors on even as evidence such as the September purchasing manager surveys show that nobody wins. British Prime Minister […] More

National Bank of Poland Reference Rate Maintained at 1.5%

May 15, 2019

Four just over four years, the reference central bank rate in Poland has been at 1.5% since a pair of 50-basis point cuts in January and March of 2015. That’s the longest span between changes. In a released statement, the conclusion that 1.5% represents an appropriate stance was explained as follows: The outlook for economic […] More

Dollar Eased but Share Prices and Sovereign Debt Yields Rose Overnight

April 3, 2019

The dollar slipped 0.4% against the euro and 0.2% relative to the yen, loonie, yuan, and Swiss franc. Larger dollar drops of 0.8% and 0.6% occurred versus the Australian and New Zealand dollars, and a 0.1% uptick happened versus the yen. Share prices in the Pacific Rim strengthened 1.2% in China, Hong Kong and South […] More

U.S. Trade Deficit Catapults Higher Despite Tariff Policy

March 6, 2019

The U.S. goods and services trade deficit soared to a 122-month high in December of $59.8 billion. That was 18.8% greater than November’s deficit and embodied an $81.5 billion deficit from traded goods. The 2018 goods and services trade deficit equaled $621.0 billion, compared to $552.3 billion in 2017 and $502.0 billion in the last […] More

Aussie Dollar Down More than 1% Overnight

February 6, 2019

An overnight speech by Bank of Governor Lowe, not Donald Trump’s delayed State of the Union address, stole the currency market spotlight today. Forward guidance from the Reserve Bank of Australia had for some time pointed to an eventual interest rate increase, but Lowe said that in line with shifting economic data and changing global […] More

Policy Monetary Policy Rate Left Unchanged at 1.5%

September 5, 2018

The Monetary Policy Committee of the National Bank of Poland has left the reference interest rate at 1.5% since two 50-basis point cuts in the first quarter of 2015. That stance is being continued, according to a statement released today. Inflation is merely moderate¬† and low in the case of core items despite faster growth […] More

National Bank of Poland

June 6, 2018

The Polish central bank reference rate will stay at 1.5%, its level since cuts of 50 basis points each in January and March of 2015. According to a released statement, “Notwithstanding relatively high economic growth and wages rising faster than in the previous year, consumer price growth remains moderate. Inflation net of food and energy […] More

National Bank of Poland

May 16, 2018

A 1.5% central bank reference interest rate will continue to be flanked by a 0.5% deposit rate and a 2.5% lombard rate. In a released statement,¬†officials note “persistently low domestic inflationary pressure across many countries” and predict that Polish inflation will likely stay near its target pace through the monetary policy transmission horizon. On-year GDP […] More

National Bank of Poland

April 11, 2018

No change was made in Polish monetary policy at the latest review. The reference interest rate has been at 1.5% since a pair of 50-basis point cuts in January and March of 2015. Prior to 2012, the reference rate had been at 4.75%. Officials foresee CPI inflation staying near its target during the forecast horizon […] More

National Bank of Poland

February 7, 2018

The Monetary Policy Council at Narodowy Bank Polski agreed to leave interest rates unchanged at this week’s policy review. Since March 2015, a 1.5% reference rate has been flanked by by a 0.5% deposit rate and a 2.5% Lombard rate. Robust growth continues, yet inflation is moderate overall and low on core items. Over its […] More