Free Trial

Central Bank Hawks Point To Sticky Core Inflation

NBP

News wires have circulated comments from two hawkish dissenters in the NBP's rate-setting panel, both of whom emphasised that core inflation keeps accelerating.

  • Joanna Tyrowicz told Reuters that the NBP's current policy stance is not restrictive enough, given strong momentum in core inflation. She argued that policymakers should not give too much priority to concerns over economic slowdown amid the need to contain price pressures. She noted that "certainly, we need higher interest rates" as "our job in bringing inflation back to target is far from done."
  • Ludwik Kotecki gave an interview to Biznes24 TV channel, noting that he expects CPI inflation to be above +10% Y/Y at the end of the year. This contrasts with Governor Glapinski's personal forecast of +6% Y/Y, but matches a projection made by Tyrowicz earlier this week. Kotecki suggested that inflation might print at +18.5%-19.1% Y/Y in February and warned against pro-inflationary fiscal pledges in the election year.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.