The National Bank of Poland's (NBP) rate-setting body is likely to continue its cycle of interest rate hikes until it makes sure inflation is going down permanently, the NBP governor has said.
Poland's core inflation, excluding the prices of food and energy, measured 7.7 percent year on year in April 2022, up from 6.9 percent in March, the National Bank of Poland (NBP) said on Monday.
Adam Glapinski, the governor of the National Bank of Poland (NBP), has been approved by the Sejm, the lower house of parliament, for a second six-year term of office.
The Polish Ministry of Finance will start issuing one-year bonds with coupons equal to the National Bank of Poland's (NBP) interest rate, Mateusz Morawiecki, the prime minister, has announced.
The National Bank of Poland (NBP) has over EUR 140 billion in foreign currency reserves, nearly twice as much as 10 years ago, the bank's president has written in a weekly magazine.
The Monetary Policy Council (RPP), the Polish central bank's rate-setting body, increased the reference interest rate by 75 basis points (bps) to 5.25 percent on Thursday.
Poland's core inflation, excluding the prices of food and energy, measured 6.9 percent year on year in March 2022, up from 6.7 percent in February, the National Bank of Poland (NBP) said on Tuesday.
Poland's central bank, the NBP, generated a PLN 10.97 billion (EUR 2.37 billion) profit in 2021 and will transfer about PLN 10.43 billion (EUR 2.25 billion) from that amount to the state budget, NBP has said.
Jaroslaw Kaczynski, leader of Poland's ruling party Law and Justice (PiS), has said the party will support the president's motion to keep Adam Glapinski as the central bank head for a second term of office.
Poland's current account deficit rose to EUR 4.73 billion at the end of the fourth quarter of 2021, against a deficit of EUR 3.36 billion recorded at the end of the third quarter, according to central bank figures released on Thursday.