The Monetary Policy Council decided to keep interest rates in Poland at the current level. The press conference of the President of the National Bank of Poland, Adam Glapinski, begins, at which he will explain the reasons for the decision of the VKP.
The Monetary Policy Council (MPC) kept the base rate at 6.75. The Lombard rate is 7.25 percent, the deposit rate is 6.25 percent, and the rediscount rate is 6.80 percent. in year.
President Adam Glapinski first presented the terms of Wednesday’s decision to once again leave interest rates unchanged. He noted that the economic situation in the world is deteriorating.
- There are assumptions in which country there will be a recession, and in which not, whether it will affect Germany, our main trading partner. Global economic growth in 2023 will be much lower than last year. In particular, in the euro area, GDP growth slowed to 0.1%, while in Germany it fell by 0.2%. compared to the previous quarter, Glapinski said.
He added that the poor economic situation is mainly due to high energy prices. Despite the fact that commodity prices have fallen from their highest level and there is no longer a risk of gas shortages in Europe, gas prices are several times higher than before the Russian aggression in Ukraine.
interest rates. Analysts agree on their predictions
This was not surprising; most economists expected such a move from MPC. The main reason why analysts do not see the need to raise rates is the expected decline in inflation. Although it will increase in February and March (possibly exceeding the level of 20%), from April it will probably start to decrease.
The article is being updated.
Source: Wprost
I am George Brown, author at Daily News Hack. I mostly cover economy news and I have been doing this for quite some time now. I have a lot of experience in this field and I’m always looking for new opportunities to learn more.
