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Governor Glapinski Says Inflation Has Returned To Target

NBP

NBP Governor Adam Glapinski begins his press conference by declaring that Polish inflation has probably returned to the +2.5% Y/Y target, although it will only be confirmed by official data. For clarity, he refers to the CPI reading for March.

  • The official says that we are "certainly within the [+/- 1pp tolerance] band" around the inflation target, which means that the NBP achieved its goal and one could say that we have no inflation.
  • Glapinski reaffirms a "goldilocks scenario" implied by the main parameters of the NBP's latest macroeconomic forecast, with inflation still in a downtrend and economic growth starting to accelerate.

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