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Glapinski Says CPI Inflation Will Ease To +7.4% Y/Y In November

NBP

NBP Governor Adam Glapinski has started his press conference in the wake of yesterday's monetary policy decision by the central bank's Monetary Policy Council.

  • The official says that inflation will ease "very quickly" to the target while CPI growth will cool more than suggested by the new macroeconomic projection.
  • He expects that inflation will decline by around 10pp this year and we will see single-digit outturns at the year-end, at the cost of slower economic growth.
  • Glapinski plays down recession concerns, noting that the economy will likely experience a soft landing, before returning to growth.

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