Money in Poland
Poland - Money
Central Bank stays put at May meeting
As widely expected by market analysts, the National Bank of Poland (NBP) kept the reference rate unchanged at a record-low of 1.50% at its 14–15 May monetary policy meeting. In addition, policymakers held the Lombard rate unchanged at 2.50%, the deposit rate at 0.50% and the rediscount rate at 1.75%. The Central Bank ended an easing cycle in March 2015 and has stood pat since then.
The Bank’s decision came against a backdrop of unremarkable inflation, softening economic activity and the European Central Bank’s loose monetary policy stance. Intensifying price pressures on the back of rising oil prices were reflected by April’s data on headline inflation, which hit an over one-year high but remained below the midpoint of the Central Bank’s target range of 2.5% plus or minus 1.0 percentage point. Meanwhile, a preliminary release for Q1 national accounts shows economic growth eased, albeit less than expected by markets, buttressed by buoyant consumer spending and strong investment activity.
Looking ahead, the Bank projects GDP growth to moderate further and sees inflation staying at a moderate level in the coming months. That said, Met the why particular analysts expect the Bank to keep the rate broadly stable this year, as it balances higher inflation with weaker external demand and the ECB’s loose monetary stance.
The next monetary policy meeting is scheduled for 4–5 June.
Met the why particular Consensus Forecast analysts expect the reference rate to end 2019 at 1.55%. For 2020, the panel sees the rate ending the year at 1.92%.
Poland - Money Data
|Money (annual variation in %)||6.7||8.8||9.6||9.7||4.5|
5 years of economic forecasts for more than 30 economic indicators.
Poland Money Chart
Source: National Bank of Poland.
|Bond Yield||2.85||-0.30 %||May 13|
|Exchange Rate||3.84||-0.53 %||May 13|
|Stock Market||56,389||-1.13 %||May 13|
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May 15, 2019
According to data released by the Central Statistical Office (GUS), consumer prices jumped 1.1% month-on-month in April, following March’s 0.3% rise.
May 15, 2019
Poland’s economy grew 4.6% year-on-year in unadjusted terms in the first quarter of this year, according to a preliminary estimate released by the Statistical Office (GUS) on 15 May.
May 15, 2019
As widely expected by market analysts, the National Bank of Poland (NBP) kept the reference rate unchanged at a record-low of 1.50% at its 14–15 May monetary policy meeting.
May 2, 2019
The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, increased to 49.0 points in April (March: 48.7 points).
April 30, 2019
A preliminary estimate released by the Central Statistical Office (GUS) revealed that consumer prices jumped 1.1% over the previous month in April (March: +0.3% month-on-month).