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Hiking Too Aggressively Could Significantly Impact Economic Activity

POLAND
  • Yesterday, NBP member Grazyna Ancyparowicz said that central bank may raise interest rates by 50bps at the next meeting if the growth pace of consumer credit holds.
  • NBP Hardt also sees a 50bps hike in January to fight high inflation.
  • However, hiking rates too aggressively could also significantly impact the economic activity as the Covid uncertainty remains elevated.
  • Polish energy markets regulator URE will probably on Friday announce household power price hikes of about 20% (BBG).
  • Today, core CPI is coming out (1pm, London time) and is expected to accelerate to 4.7% in November, up from 4.5% the previous month.

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