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Unemployment Rate Remains Steady At 5.4% In December

POLAND
  • NBP member Gatnar said in an interview yesterday that he sees the need for the policy rate to be above 3%, which may weigh on growth expectations.
  • He added that Poland must avoid price spiral and therefore the NBP must continue to raise rates.
  • This follows Governor Glapinski comments on Friday that Polish rates should rise more than what market expects'.
  • This morning, economic data showed that unemployment rate remained steady in December at 5.4%.
  • Hasty tightening of monetary policy in Poland may upset the balance that has allowed the economy to maintain a good growth rate and relative sustainability of public finances, MPC members Grazyna Ancyparowicz and Jerzy Zyzynski write in joint article for Rzeczpospolita newspaper (BBG).
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