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.
Poland's annual inflation may drop visibly in 2024, the National Bank of Poland (NBP) wrote on Thursday in a macro-economic survey.
According to the latest projection by the National Bank of Poland (NBP), the consumer price index (CPI) will jump to 10.8 percent in 2022.
Polish interest rates might be increased on Tuesday by at least 50 basis points, with some economists expecting a 75-bps or even a 100-bps hike, as the Polish zloty suffers from unprecedented losses and volatility.
Andrzej Duda, the president of Poland, has submitted a motion to the Sejm, the lower house of parliament, to re-appoint Adam Glapinski as governor of the National Bank of Poland (NBP) for a second term.
Adam Glapinski, governor of the National Bank of Poland (NBP), has said the central bank will do everything to ensure a permanent decline in inflation.