National Bank of Poland
February 8, 2017
Poland’s 7-day repo rate has been at 1.5% since a 50-basis point cut in March 2015. Inflation has risen lately for reasons largely beyond the control of monetary policy. According to a released statement, “the risk of inflation persistently running above the target in the medium term is low” because of a negative output gap and moderate growth in unit labor costs and GDP. Prior to the aforementioned rate cut in March 2015, there was also a 50-bp reduction in October 2014 plus eight cuts totaling 225 bps from November 2012 to July 2013.
Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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