NEWS
1st July 2008 - Quarter point rise in Polish official interest rates announced
As expected, the Monetary Policy Council of the Polish National Bank has raised interest rates by 0.25% at it's June sitting, bringing the reference rate to 6%.
Most observers believe the Council to be nearing the end of its tightening cycle, though inflation remains high and a risk in the near term.
Inflation in Poland currently stands at 4.4%, and is expected to peak in August. The inflationary pressures are largely out of the control of the council, and are mainly centred on higher food and energy prices.
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