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Poland Raises Irs To 4%

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Bloomberg Link

Poland’s central bank raised interest rates for the second time this year to damp inflation expectations in an anticipated decision that boosted the zloty.

The Monetary Policy Council lifted the benchmark seven-day rate by a quarter-point to 4 percent, matching the forecast of 22 of 31 economists surveyed by Bloomberg. Nine expected borrowing costs to remain unchanged. The Warsaw-based central bank will hold a press conference at 4 p.m. in Warsaw.

Policy makers across the globe are struggling to contain accelerating inflation, driven by surging food and fuel prices. Since last month, when the Narodowy Bank Polski refrained from raising interest rates, the inflation rate remained above the bank’s 2.5 percent target for a fifth month, while the rate of consumer-price increases expected by consumers in the next 12 months posted its biggest one-month jump in a decade.

“The sharp growth of inflationary expectations in March was surely a crucial argument, since it raises the risk of wage pressure,” Maja Goettig, chief economist at Bank BPH SA in Warsaw, wrote in a research note after the decision. “We expect monetary tightening to continue in coming months and rates to rise by 50 basis points through the end of the year.

“if the Polish central bank is considering a rate increase in the second quarter, it’s better to do it early,” Piotr Kalisz, chief economist at Citibank Handlowy in Warsaw, said before the decision. “April is the right moment due to the restrictive rhetoric coming from the ECB.

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That explains a few things, like sugar costing 2x the price in Poland and the shops at the Polish-German border being bought empty by Polish folks who are hamstering sugar like in the bad old times.

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Bloomberg Link

Poland’s central bank raised interest rates for the second time this year to damp inflation expectations in an anticipated decision that boosted the zloty.

The Monetary Policy Council lifted the benchmark seven-day rate by a quarter-point to 4 percent, matching the forecast of 22 of 31 economists surveyed by Bloomberg. Nine expected borrowing costs to remain unchanged. The Warsaw-based central bank will hold a press conference at 4 p.m. in Warsaw.

Policy makers across the globe are struggling to contain accelerating inflation, driven by surging food and fuel prices. Since last month, when the Narodowy Bank Polski refrained from raising interest rates, the inflation rate remained above the bank’s 2.5 percent target for a fifth month, while the rate of consumer-price increases expected by consumers in the next 12 months posted its biggest one-month jump in a decade.

“The sharp growth of inflationary expectations in March was surely a crucial argument, since it raises the risk of wage pressure,” Maja Goettig, chief economist at Bank BPH SA in Warsaw, wrote in a research note after the decision. “We expect monetary tightening to continue in coming months and rates to rise by 50 basis points through the end of the year.

“if the Polish central bank is considering a rate increase in the second quarter, it’s better to do it early,” Piotr Kalisz, chief economist at Citibank Handlowy in Warsaw, said before the decision. “April is the right moment due to the restrictive rhetoric coming from the ECB.

You missed the bit where it said inflation was 3.6% in Feb.

Look at that.... inflation 3.6% and base rate 4%... a proper country where saver's aren't seeing their hard earned wealth destroyed

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We need to import some Polish central bankers. The quality of decision making might improve.

We all need to say ***k this and go live in Poland.

Leave this s***e hole to the politicians, the bankers and the...err...well....the polish immigrants :lol::lol::lol:

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The big difference is that in Poland most mortgages have been taken out in Swiss Francs or Euros (seemed like a good idea at the time), so when they raise Polish interest rates the Zloty goes up and your mortgage goes down.

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Guest spp

Too bad our central bank is unable to raise the rate, lest they CRASH the nation, and risk insurrection.

It's a pickle.

Thank god for Silver!

;)

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Poland’s central bank raised interest rates for the second time this year to damp inflation expectations in an anticipated decision that boosted the zloty.

...time our Mervyn took a bit of in-house training in Poland... :rolleyes:

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Thank god for Silver!

;)

Indeed. Just worked out that the value of my physical silver investment has trebled in the 2 years since I bought in. Plenty more action to come there. B)

VIZ Top Tip: All HPC neigh-sayers, who told GC and his kind they were idiots for buying PM's, can take comfort in the fact that their now worth-a-lot-less sterling will double as tissues, to wipe the tears of sorrow and regret from their reddened eyes.

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We all need to say ***k this and go live in Poland.

Leave this s***e hole to the politicians, the bankers and the...err...well....the polish immigrants :lol::lol::lol:

No lack of housing in Poland. Lack of people working age though. I'm off, thank you EU. :P

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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