NEWS
31st January 2008 - Poland\'s interest rates rise by 0.25%
As was widely expected by the market, Poland’s Monetary Policy Council raised interest official interest rates in Poland. The decision taken at the January sitting was in response to rising price (inflationary) pressures on the demand side. Poland’s reference rate now stands at 5.25%, up 1.25% from when the rate tightening cycle began in April 2007.
Within the inflationary pressure, the top concern remains wage growth. A further key inflation risk is the rise in food and fuel prices. The rise of food and fuel prices helped to push Poland’s inflation rate beyond the 1.5%-3.5% target range.
The council pointed out the possible risk of a global downturn but is staying on the sidelines as to what the potential overflow risks for Poland will be.
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