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Poland Raises Irs Fourth Time This Year

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Sadly, the BoE is unlikely to follow this trend...

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Central bankers in Warsaw said last month that they accelerated the pace of rate increases as policy makers around the world try to prevent rising food and fuel prices from spilling over into the broader economy.

The Narodowy Bank Polski raised the benchmark seven-day interest rate by a quarter point to 4.5 percent.

Poland’s inflation rate rose to 4.5 percent in April from 4.3 percent in March, exceeding the central bank’s 2.5 percent target for a seventh month.

The economy expanded 4.4 percent from a year earlier in the first quarter, close to the fastest pace since 2008, as private consumption exceeded analysts’ expectations and investment recovered. Corporate wages increased 5.9 percent from a year earlier in April, the most since December 2009, and retail sales rose 18.6 percent, the most since the start of 2008.

Poland’s central bank can’t allow the benchmark rate to stay below the level of annual inflation “for a sustained period,” Monetary Policy Council member Zyta Gilowska said in a May 16 interview with the country’s PAP newswire.

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Sadly, the BoE is unlikely to follow this trend...

BLOOMBERG LINK

It's all grist to King's mill.

"Well Poland are raising interest rates and their temporary and unexpected inflation is still going up, so we're right to remain vigilant. Any inflation we get is still temporary and unexpected. Please don't lynch me before I can retire to the Bahamas to spend more time with my index linked pension."

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Guest spp

The central planners have lost control, they can't stop the end game inflation.

And the flow of capital to the emerging economies and the east.

"Houston, we have a problem."

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Poland is currently suffering from large capital inflows and the more they raise rates the more flows in. This is all very well until the next global shock comes along and it all flows out again!

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Could we not just find a Pole to replace Mervyn King?

From my experience, they do a better job for half the pay.

And don't worry about the language barrier, they'll still speak more sense than Merv.

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Could we not just find a Pole to replace Mervyn King?

From my experience, they do a better job for half the pay.

And don't worry about the language barrier, they'll still speak more sense than Merv.

ROFL :lol: , funniest post on HPC.co.uk today, and you are right. too.

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  • 312 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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