The Polish central bank believes interest rate rises are inevitable due to surging economic growth, a top central banker said Tuesday
Published:
18 June 2004 y., Friday
The Polish central bank believes interest rate rises are inevitable due to surging economic growth, a top central banker said Tuesday.
Halina Wasilewska-Trenkner, a member of the central bank's board, said economic growth of almost 7 percent year-on-year meant the central bank would have to raise rates to contain inflationary pressures that could result from economic overheating.
Last week, official figures showed the Polish economy growing 6.9 percent at a year-on-year rate in the first quarter, way above expectations. Figures released Monday showed inflation at its highest level for two years. Year-on-year inflation in May came in at 3.4 percent.
Many economists now expect Polish interest rates to rise by as much as 50 basis points at the central bank's monetary policy meeting later this month.
Key interest rates currently stand at 5.25 percent.
Šaltinis:
UPI
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
EBRD to pay 4.6 billion roubles for 11.75 percent stake.
more »
On 24 November in London a letter of intent will be signed between Alytus Municipality and the Spanish aluminium company “Sopena group” regarding investments of the “Sopena group” in Alytus.
more »
Tourism opportunities in Dzūkija Region of Lithuania and other issues of incoming tourism promotion were the main topics of the meeting of the Mixed Intergovernmental Commission on Trade and Economic Cooperation between the People’s Republic of China and the Republic of Lithuania.
more »
On 22-23 November in Kiyv, foreign ministers of Lithuania, Ukraine and Belarus discuss trilateral cooperation and participation of Belarus and Ukraine in the Eastern Partnership of the European Union.
more »
The Kozloduy International Decommissioning Support Fund is supporting an innovative programme to boost energy savings and efficiency of public buildings in Bulgaria with a €5 million grant.
more »
Bank DnB NORD’s Economic Research Group predicts that out of the six Baltic Rim countries, moderate economic growth will be seen in Poland, Finland and, possibly Estonia in 2010, while Denmark, Lithuania and Latvia will need more time to climb out of recession.
more »
In a meeting in Brussels of the European Bank Coordination Initiative held on 19 November 2009, the parent banks of the six largest foreign banks active in Hungary reaffirmed their commitments made in May 2009 to support their subsidiaries.
more »
On 17 November 2009, the Board of AB Bank SNORAS decided to establish the bank’s representative office in London.
more »
The European Commission has approved, under EC Treaty state aid rules, two capital injections in favour of 'The Mortgage and Land Bank of Latvia' (LHZB).
more »
The government of G hana will tomorrow sign an historic agreement with the EU aimed at ensuring that only legally harvested timber from the West African country is exported to the EU market.
more »