National Bank of Poland Extends Likely Unchanged Monetary Policy to Mid-2014

November 6, 2013

The Monetary Council of Narodowy Bank retained its record low 2.5% reference interest rate.  From 4.75%, such was cut by 225 basis points in eight moves to its present level between November 2012 and July 2012.  A 25-bp cut in July was the most recent rate change, and a statement accompanying today’s decision extended the likely policy pause from the end of this year by six additional months to mid-2004.  The statement unveils new macroeconomic forecasts depicting slow yet accelerating economic growth and low inflation.  Expected inflation is also low.

Copyright 2013, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.



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