A senior official from Poland's central bank warned markets Monday expectations for sharp falls in interest rates this year were misplaced
Published:
1 March 2005 y., Tuesday
A senior official from Poland's central bank warned markets Monday expectations for sharp falls in interest rates this year were misplaced.
The Deputy Governor of the central bank, Krzysztof Rybinski, said the inflation target of 2.5 percent year-on-year, plus or minus one percentage point, would be jeopardized if sharp cuts were made.
"Cuts of 150 basis points would cause the inflation prognoses to point above target," Rybinski was quoted as saying by the PAP news agency.
Rybinski said the inflation rate would probably fall from the current level of 4 percent to near target levels by the middle of the year and would comfortably be achieved and maintained in the next two to three years.
Last week the central bank left key rates unchanged at 6.5 percent but changed its monetary bias to "easing". Such moves in the policy bias usually herald interest rate cuts in the near or medium term.
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 authorised under EU state aid rules a €550 million capital injection and a €400 million guarantee in favour of the Austrian bank BAWAG. P.S.K. The Commission found the measures to be in line with EU state aid rules.
more »
EUROSTAT has reported that the sharpest annual decrease in hourly labour costs of -10.9% was observed in Lithuania in the 3rd quarter of 2009.
more »
Statistics Lithuania informs that, according to the Labour Force Survey data, the number of the unemployed in III quarter 2009 made 228.1 thousand.
more »
What has come to be termed as the "Great Recession" seems to have come to an end in the third quarter of 2009.
more »
The European Commission has authorised, under EU State aid rules, a measure adopted by Lithuania to limit the adverse impact of the current financial crisis on exporting firms.
more »
The schedule of Vilnius International Airport (VIA) is supplemented with 3 more new directions; the airline company airBaltic starts regular flights to Paris today, to Munich tomorrow, and to Berlin on Monday.
more »
The Governing Council of the European Central Bank (ECB) has decided to start the main construction works for its new premises in spring 2010.
more »
AB Bank SNORAS was granted the award from NASDAQ OMX Baltic Stock Exchange for the jubilee 15-year listing of the bank’s shares on NASDAQ OMX Vilnius Stock Exchange.
more »
Parex banka has established a subsidiary, SIA NIF, which will professionally manage assets that are not related to the Bank’s core business.
more »
Mariann Fischer Boel, European Commissioner for Agriculture and Rural Development, today put forward a plan to ensure that Greece will put in place the systems necessary to allow EU aid payments to be made to farmers.
more »