Recent macroeconomic data point to a gradual recovery in Poland in the opinion of the National Bank of Poland’s Monetary Policy Council (RPP), according to the minutes of the RPP’s February meeting.
RPP members expect investment activity to grow significantly, but consumption is not seen growing. The central bankers see a positive outlook for exports. Inflation is likely to stay low.
“The Council maintained its assessment that the gradual improvement in economic conditions was likely to continue over the coming quarters, while inflation pressure would remain limited. In this context, the Council confirmed that it would be justified to maintain the interest rates at the current level at least until the end of the first half of 2014,” the statement read.
The RPP left all of the NBP’s interest rates unchanged in February, the reference rate at 2.50 percent, the lombard rate at 4.00 percent, the deposit rate at 1.00 percent and the rediscount rate at 2.75 percent.
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