National Bank of Poland
Concerns Over Trade Lessen
December 4, 2019
Zig-zagging perceptions from day to day about the likelihood of a U.S.-Sino trade deal have been a major source all year of short-term financial market volatility. The shifts often happen inexplicably, like changing weather. Today investors are more hopeful than yesterday that a deal will be reached to culminate phase I of the trade negotiations. […] More
A Steady Dollar
November 6, 2019
The dollar on balance remains near Tuesday closing levels. Gold is 0.3% firmer. The spate of recent increases in 10-year sovereign debt yields was reversed today with 3-basis point declines in U.S. Treasuries and British gilt yields and a dip of 1 basis point in the 10-year German bund yield. The Japanese 10-year JGB yield, […] More
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
