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POLAND: NBP Revise Upper Bound of 2025 CPI Projection Lower

POLAND

Highlights from the NBP's policy statement (via Bloomberg):

  • 2025 CPI at 4.1-5.7% vs 4.2-6.6%
    • 2026 CPI at 2-4.8% vs 1.4-4.1%"
    • 2027 CPI at 1.1-3.9%
  • 2025 GDP at 2.9-4.6% vs 2.4-4.3%
    • 2026 GDP at 1.9-4% vs 1.7-4%
    • 2027 GDP at 1.1-3.5%
  • CPI to stay markedly above target next quarters
  • Core CPI likely to remain at elevated level
  • CPI should return to goal in medium-term
  • Current rate helps reaching mid-term goal
  • Energy prices in 2H may keep CPI above target

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Highlights from the NBP's policy statement (via Bloomberg):

  • 2025 CPI at 4.1-5.7% vs 4.2-6.6%
    • 2026 CPI at 2-4.8% vs 1.4-4.1%"
    • 2027 CPI at 1.1-3.9%
  • 2025 GDP at 2.9-4.6% vs 2.4-4.3%
    • 2026 GDP at 1.9-4% vs 1.7-4%
    • 2027 GDP at 1.1-3.5%
  • CPI to stay markedly above target next quarters
  • Core CPI likely to remain at elevated level
  • CPI should return to goal in medium-term
  • Current rate helps reaching mid-term goal
  • Energy prices in 2H may keep CPI above target

Click here to see the full release.