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Inflation Developments Associated With "Substantial Uncertainty"

POLAND
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Highlights from the NBP's policy statement:

  • The Council judges that the current level of the NBP interest rates is conducive to meeting the NBP inflation target in the medium term.
  • It is expected that in 2024 Q2 annual CPI growth will run at the level consistent with the NBP inflation target… In subsequent quarters, inflation developments are, however, associated with substantial uncertainty.
  • Should energy prices be raised, inflation might increase significantly in the second half of 2024. Alongside that, over the medium term, demand pressure in the economy will be stimulated by a marked wage growth
  • The Council judges that the decrease in inflation is supported also by the appreciation of the zloty exchange rate.

Click here to see the full statement.

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Highlights from the NBP's policy statement:

  • The Council judges that the current level of the NBP interest rates is conducive to meeting the NBP inflation target in the medium term.
  • It is expected that in 2024 Q2 annual CPI growth will run at the level consistent with the NBP inflation target… In subsequent quarters, inflation developments are, however, associated with substantial uncertainty.
  • Should energy prices be raised, inflation might increase significantly in the second half of 2024. Alongside that, over the medium term, demand pressure in the economy will be stimulated by a marked wage growth
  • The Council judges that the decrease in inflation is supported also by the appreciation of the zloty exchange rate.

Click here to see the full statement.