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Glapinski says NBP Now in 'Wait-and-See' Mode

POLAND
  • Adding to his earlier comments, NBP Governor Glapinski says the slowdown should be strong enough to lower CPI, effectively confirming the view that the NBP may no longer see the need for further hikes going forward, with a weaker economy and previous policy action enough to tame inflation.
  • Glapinski adds that this is not as formal end to the hiking cycle, with the MPC now in 'Wait-and-See' mode. The bank will now wait until November when new CPI projections are published, but price growth next year will depend on government decisions on energy costs.
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  • Adding to his earlier comments, NBP Governor Glapinski says the slowdown should be strong enough to lower CPI, effectively confirming the view that the NBP may no longer see the need for further hikes going forward, with a weaker economy and previous policy action enough to tame inflation.
  • Glapinski adds that this is not as formal end to the hiking cycle, with the MPC now in 'Wait-and-See' mode. The bank will now wait until November when new CPI projections are published, but price growth next year will depend on government decisions on energy costs.