MNI: US NOV FINAL SRVCS PMI 56.1 (FLASH 57.0); OCT 55.0

MNI BRIEF: Barkin Aims For 'Somewhat Restrictive' Fed Rates

MNI BRIEF: US Pay Gains Stabilizing At Higher Rate -ADP

MNI China Daily Summary: Wednesday, Dec 4

MNI BRIEF: China Must Quicken Reforms To Boost Domestic Demand

MNI: PBOC Net Drains CNY227 Bln via OMO Wednesday

EZ/UK Bond Supply Calendar: Spain, France Auction, UK Tender

US EIA: CRUDE OIL STOCKS EX SPR -5.07M TO 423.4M NOV 29 WK

MNI: US ISM NOV SERVICES COMPOSITE INDEX 52.1

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

POLAND: NBP Say Unfreezing of Energy Prices in 2H-2025 Poses Uncertainty

POLAND
PolandCEEMEAEM BulletBulletEmerging Market News

Highlights from the NBP's policy statement:

  • In the Council’s assessment, inflation is currently significantly boosted by rising energy carriers’ prices and by other regulatory factors.
  • The price pressure in the domestic economy is also stimulated by the marked wage growth
  • At the same time, demand and cost pressures in the Polish economy remain relatively low
  • The earlier appreciation of the zloty exchange rate acts in the same direction
  • In the coming quarters inflation will remain markedly above the NBP inflation target, driven by the effects of earlier increase in energy prices
  • In the medium term – under the current NBP interest rates level and amid the expected gradual decline in wage growth – inflation should return to the NBP target.
  • However, developments in energy prices, due to their probable unfreezing in the second half of 2025 [...] remain an uncertainty factor for the expected horizon for the return of inflation to the target

Full release here.

150 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Highlights from the NBP's policy statement:

  • In the Council’s assessment, inflation is currently significantly boosted by rising energy carriers’ prices and by other regulatory factors.
  • The price pressure in the domestic economy is also stimulated by the marked wage growth
  • At the same time, demand and cost pressures in the Polish economy remain relatively low
  • The earlier appreciation of the zloty exchange rate acts in the same direction
  • In the coming quarters inflation will remain markedly above the NBP inflation target, driven by the effects of earlier increase in energy prices
  • In the medium term – under the current NBP interest rates level and amid the expected gradual decline in wage growth – inflation should return to the NBP target.
  • However, developments in energy prices, due to their probable unfreezing in the second half of 2025 [...] remain an uncertainty factor for the expected horizon for the return of inflation to the target

Full release here.