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NBP Expects Inflation To Reach 7% in Q1 2022

POLAND
  • Poland accused the European Union of acting in "bad faith" in their conflict over access to 36 billion euros ($42 billion) in pandemic aid and suggested the country may stop paying its membership fees to the bloc if the situation escalates (BBG).
  • At 3pm (London time), the parliament will hold a special session to discussion the situation at Belarus border.
  • The NBP expects inflation to remain at elevated levels until early 2022 before gradually easing until mid-2023 due to a potential slower growth of energy prices. November projection forecasts inflation to surge in 7% in Q1 2022.
  • Yesterday, NBP member Jerzy Zyzynski mentioned in an interview that the rise in inflationary pressures may bring the policy rate above 1.50% in 2022.

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