NEWS
4th January 2008 - More PLN interest rate rises likely in 2008
According to a member of Poland's Monetary Policy Council (RPP), an interest rate increase is required ahead of the February inflation projects, with two more rate hikes likely by the middle of the year
Poland's inflation rate may be in excess of 4% in 2008, and the rate increases are the most effective way of curbing this inflation increase. Some of the inflation drivers include increasing prices for fuel, food and non-ferrous metals.
Polish interest rates could reach 5.5-5.75% by the end of 2008, with the rate rises more than likely to be delivered in quarter point incremements.
According to the member of the RPP, the Polish economy (in terms of GDP growth) may weaken slightly in 2008. However, GDP growth is still expected to be around 5.5% in 2008, with continued wage growth around 10% p.a.
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