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Minutes Release Shows Concerns Over Inflation in Coming Quarters

NBP

Minutes for the NBP decision cross, showing the board's concern over inflation in the coming quarters:

Highlights include:

  • Data shows economic activity is gradually slowing down
  • Coming quarters CPI will remain significantly elevated
  • Raising interest rates will lower inflation in the coming years
  • Some members said the loosening of fiscal policy would have a pro-inflationary impact
  • Some members saw mortgage payment holidays making it harder to achieve a lasting decrease in inflation

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