Analysts at investment bank Goldman Sachs (GS) have predicted a 75-basis point increase in interest rates at the next sitting of Poland's Monetary Policy Council (RPP), scheduled for July 7.
David Solomon, the firm's president and CEO, told Poland’s prime minister Mateusz Morawiecki he was inspired by the generosity and commitment of Poles who had welcomed more the than 3.5 million refugees who were forced to leave their homes in Ukraine.
The Polish economy is among those most exposed to the harmful effects of Russia's war on Ukraine, mainly owing to its dependence on Russian fossil fuels, Goldman Sachs wrote in a report on the war's possible impact on other countries.
Poland’s reference interest rate is expected to jump to 3 percent at the beginning of 2022 as Poland’s central bank (NBP) remains focused on tackling rising inflation, Goldman Sachs has projected.
Goldman Sachs analysts forecast Poland's inflation rate will rise by 0.5 percentage points to 7.3 percent in November and also predict December's inflation level will be even higher.
Inflation in Poland could hit 6.5 percent by the end of the year, according to US bank Goldman Sachs.
Inflation in Poland could exceed 6 percent by the end of the year, according to a Goldman Sachs report published on Monday.
Goldman Sachs has raised Poland's 2022 inflation forecast from 3 percent to 3.7 percent, largely due to a sharp increase in wholesale gas and electricity prices, the bank announced on Tuesday.
US investment bank Goldman Sachs said in its economic growth forecast for Poland it expects the country’s GDP to expand by 5.8 percent this year.
Polish GDP in the first quarter of 2021 may be higher than expected due to better-than-expected growth data on industrial production and retail trade, Goldman Sachs (GS) analysts have said.