The long-standing appreciation of the zloty may hurt Poland's burgeoning exports, the government has warned
Published:
20 November 2002 y., Wednesday
The long-standing appreciation of the zloty may hurt Poland's burgeoning exports, the government has warned. However, the central bank, citing the country's approaching accession to the European Union, has no intention of intervening to make the zloty less expensive.
The continued strengthening of the Polish currency has brought about a situation in which the exchange rates of both the dollar and the euro have dropped below zl.4. However, the National Bank of Poland (NBP) insists that it has no intention of moving in to reduce the price of the zloty. "The central bank will work in keeping with its strategy, which means it will only intervene in the foreign exchange market in the event of a threat to the inflationary target," said Wiesława Ziółkowska, a member of the Monetary Policy Council (RPP).
Prime Minister Leszek Miller recently said the zloty was overvalued and thus hurt exports. However, in the next breath, he added that "Whatever the NBP does in this matter is its own business."
Šaltinis:
warsawvoice.pl
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Today, the Commission published a Communication which outlines the most serious tax problems that EU citizens face in cross-border situations and announces plans for solutions.
more »
The European Commission has opened a formal investigation under EU state aid rules to examine a number of support measures, including several capital injections and shareholder loans, that the Hungarian authorities granted to Malév-Hungarian Airlines in the context of its privatisation and subsequent renationalisation.
more »
Internet and lax customs enforcement drive growth of 600 billion US dollar counterfeit goods industry.
more »
350 million people rose out of poverty in the past decade, but 1.4 billion are still extremely poor, says the latest report into rural poverty.
more »
New plan sets out action to reach 75% employment target for the EU by 2020.
more »
Research Ministers of the EU Member States and Associated Countries, together with the European Commission, are announcing in Brussels today three new pan–European energy research infrastructures.
more »
Algirdas Šemeta, Commissioner for Taxation, Customs, Audit and Anti-fraud, is visiting Moscow today to discuss ways in which customs cooperation between the EU and Russia can be reinforced.
more »
Following on from Monday's debate with ECB President Jean-Claude Trichet, MEPs on Tuesday adopted a resolution, by a show of hands, gauging the ECB's performance in 2009 and suggesting actions to be taken in view of the economic situation.
more »
The European Parliament today approved €10.5 million in European Globalisation Adjustment Fund aid to over 3,000 people in the Netherlands who lost their printing and publishing sector jobs last year, due to the economic crisis.
more »
A diamond-studded gold coin engraved with a picture of the Taj Mahal and worth 100,000 euros is unveiled at the Paris mint.
more »