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
The European Commission has adopted additional legislative proposals today to further strengthen financial supervision in Europe.
more »
The EU has announced plans to regulate the market for derivatives – complex financial products that helped trigger the financial crisis.
more »
New proposals to help EU farmers through the milk price crisis were backed by Parliament on Thursday.
more »
The European Commission and the European Investment Bank (EIB) Group are organising a conference in Brussels on 22 and 23 October to further promote two initiatives designed to increase the use of financial engineering instruments in the framework of cohesion policy.
more »
The biggest thermal insulation production manufacturer in Finland “Finnfoam” has started the construction of a thermal insulation production plant in Kaunas FEZ.
more »
The European Investment Bank (EIB) is providing two loans in Hungary.
more »
Key Western Balkan projects to benefit from new funding EU, IFI financing to focus on infrastructure, SMEs and energy efficiency.
more »
Lithuania, Belarus and China will cooperate in the development of the initiative of the East-West transport corridor.
more »
On October this year AB Bank SNORAS will provide preferential UAB “Guarantee Fund of Agricultural Loans ” purpose loans to farmers and companies, which scope of activity is economic activity and processing of agricultural production.
more »
The European Commission has today approved an application from Austria for assistance under the European Globalisation Adjustment Fund (EGF).
more »