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Future Policy Decision Will Depend on Ukraine and Economic Data

POLAND
  • The NBP mentioned in its statement that future policy decisions will depend on the Ukraine situation and economic data.
  • The central bank reiterated that inflation will remain elevated in the near term.
    • *POLISH CENTRAL BANK SEES 2022 CPI AT 9.3%-12.2% VS 5.1%-6.5%
    • *POLISH CENTRAL BANK SEES 2023 CPI AT 7%-11% VS 2.7%-4.6% (BBG).
  • Growth expectations have also been revised to the downside, with GDP forecast range for 2023 reduced to 1.9% - 4.1% (vs. 3.8% - 6.1% previously).
  • NBP Governor Glapinski will hold a press conference tomorrow at 3pm CET.


Link to NBP statement:

https://www.nbp.pl/en/aktualnosci/2022/mpc_2022_03...

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