Monetary Easing On The Backburner For Now

July 2009
Emerging Europe Monitor: Central Europe & Baltic States;Jul2009, Vol. 16 Issue 7, p1
Country Report
The article reports on the decision of the National Bank of Poland (NBP) to retain its key reference rate at 3.25% in April 2009, indicating a further monetary easing during the rest of the year. It warns that the decision to maintain interest rates at the current level could mean that the bank is underestimating the severity of the economic downturn of Poland. It also suggests that such decision by the NBP is in line with the need to drag inflation back inside the 1.5 to 3.5% tolerance band.


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