Poland: Central Bank on hold in first meeting of the year. Given the fast hikes in developed markets and a tense geopolitical environment, the zloty is at a risk of further weakening. The next monetary meeting is scheduled for 9 November. - ! Minutes of the Monetary Policy Council decision-making meeting held on 26 November 2008. "The Council's assessment regarding the total scale of monetary tightening necessary will consider incoming information on perspectives for inflation and economic growth, including the situation in the labour market," the central bank said in a statement. The NBP's decision came amid rising price pressures, with inflation hitting an over 20-year Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. The National Bank of Poland Poland's central bank will raise the cost of credit at its next rate-setting meeting in September, Monetary Policy Council (MPC) member Ludwik Kotecki was. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.coms discretion. The Council and governor returned to dovish rhetoric and some of the main statements from previous months, ie: NBP should rather follow major / DM central banks than CEE peers. At its meeting on 15 September, the National Bank of Poland (NBP) decided to maintain the reference rate at an all-time low of 0.10%, marking the Bank's third consecutive hold and coming in line with market expectations. Twitter Where to get a copy of the 2022 meeting materials . Download a sample report now. The statement from the June MPC meeting (Wednesday) and Friday's National Bank of Poland Governor Glapinksi's press conference were less chaotic than that in May. Lombard rate. Meanwhile, conditions in Central and Eastern Europe are deteriorating and FX is heading into the Fed meeting without much support. Our non-consensus view was recently supported by the National Bank of Poland governor. South Korea's monetary tightening should be done at a gradual pace because of the risks of an economic contraction, the top government research agency said, as it downgraded GDP growth forecasts. Overview of Worldwide Interest Rates | Central Bank Rates | Central Bank Decisions | Monetary Meeting. Are you sure you want to delete this chart? Narodowy Bank Polski 00-919 Warszawa Poland tel. WARSAW, Dec 8 (Reuters) - Poland's central bank raised its main interest rate by 50 basis points to 1.75% on Wednesday, its third hike in as many months as emerging Europe's largest economy. "The tightening cycle will continue throughout the first quarter of next year - we believe that the MPC will raise rates to at least 3%," said Jakub Rybacki, an analyst from the Polish Economic Institute (PIE). Poland and Hungary are returning to the market after the holidays today. The NBP also raised the Lombard rate to 7.00%, the rediscount rate to 6.55% and the deposit rate to 6.00%from 6.50%, 6.05% and 5.50%, respectively. Never miss out on our latest data,analysis and industryevents. This conference, organised by the Bank of Lithuania, the National Bank of Poland, CEPR, and CEBRA's International Trade and Macroeconomics Program, focused on recent transformations of international trade and macroeconomic interdependence induced by the growth of global value chains (GVCs) and was held virtually on September 24-25. The Polish zloty softened following the decision, trading 0.69% weaker on the day at 1612 GMT. However, in order to maintain the high level of discourse weve all come to value and expect, please keep the following criteria in mind: Stay focused and on track. We expect no policy shifts in July, as the NBP monitor risks for a GDP recovery coming from the Delta variant. At its first meeting of 2021 on 13 January, the National Bank of Poland (NBP) opted yet again to keep the reference rate unaltered at its record low of 0.10%. Please wait a minute before you try to comment again. Racism, sexism and other forms of discrimination will not be tolerated. Investing.com - The dollar edged higher Tuesday, but remained near recent lows after last weeks frail jobs report, while attention turns to a number of central bank meetings during the NBP Monetary Policy Meeting Minutes Discussion. : +48 22 185 10 00: e-mail: listy@nbp.pl: ePUAP: /NBP/SkrytkaESP: NIP: 525-000-81-98: REGON: 000002223: SWIFT: The NBP also kept the lombard rate at 0.50%, the deposit rate at 0.00% and the rediscount rate at 0.11%. In addition, the Central Bank cut the Lombard rate to 1.50% and the rediscount rate to 1.05%, while leaving the deposit rate NBP stands with Ukraine - read more! The S&P Global Manufacturing Purchasing Managers' Index (PMI) came in at 42.0 in October, down from 43.0 in September. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. The NBP also raised the lombard rate to 2.75%, the rediscount rate to 2.30% and the deposit rate to 1.75%. (1) The National Bank of Poland (NBP) wants to update its newest projections, which will be subject to MPC debate this week, so that the numbers should encompass the impact of stricter lockdown measures announced on Wednesday. At its 5 October meeting, the National Bank of Poland (NBP) kept the key reference rate unchanged at 6.75%. LinkedIn This followed 11 consecutive meetings in which the NBP hiked rates since it began its tightening cycle in October 2021. Replace the attached chart with a new chart ? About Our non-consensus view was recently supported by the National Bank of Poland governor. The decision marked the seventh consecutive hold and was in line with market expectations. November. The European Central Bank hiked by 75 bps for the second straight meeting. Poland central bank preview: How close to the end of the hiking cycle? At its meeting on 4 January, the National Bank of Poland (NBP) raised the reference rate by 50 basis points to 2.25%, matching the move it made in December and marking the fourth consecutive rate hike. Poland. Comments that are written in all caps and contain excessive use of symbols will be removed. All Rights Reserved. We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. Fusion Mediaandany provider of the data contained in this websitewill not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. At its meeting on 7 July, the National Bank of Poland (NBP) raised the key reference rate by 50 basis points from 6.00% to 6.50%. Avoid profanity, slander or personal attacks. That said, higher interest rates, the fading impact of current shocks and the appreciation of the zloty should then contribute to a gradual decrease in inflation. 2007-2022 Fusion Media Limited. The Czech National Bank has been the most aggressive in central Europe in hiking rates since June, including a 125 basis point rise in November that was the biggest since 1997. %USER_NAME% was successfully added to your Block List. Reporting by Alan Charlish, Anna Koper and Pawel Florkiewicz; Editing by Kirsten Donovan, Carrefour Brasil profit slumps nearly 60% on high interest rates, Morning Bid: CPI catches the eye, crypto crumbles, South Korean think tank recommends gradual pace of rate hikes due to economic risks, Australia's central bank says nearer to point when it can wait on rates, El Salvador to receive fertilizer, wheat flour donation from China, See here for a complete list of exchanges and delays. This site uses cookies to ensure its more efficient operation. Minutes of the Monetary Policy Council decision-making meeting held on 29 October 2008. Press ), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. The data and prices on the website are notnecessarilyprovided by any market or exchange, but may be provided bymarket makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. The National Bank of Poland (NBP) slashed the reference rate from 1.50% to a record low of 1.00% at an extraordinary monetary policy meeting held on 17 March in a bid to shield the economy from the negative spillovers from the spread of coronavirus. Google+, Copyright: 2022. This week, the Hungarian central bank is to hold its regular meeting at which the decision on the main policy rate is undertaken. Investors will eye changes in the post-meeting statement on the new inflation projection and MPC reaction. Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. Home > News > Reference rate. In its communiqu, the NBP stated that its decisions will remain driven by data and by the impact of the ongoing war in Ukraine on the Polish economy. Looking for forecasts related to Monetary Policy in Poland? At its 5 October meeting, the National Bank of Poland (NBP) kept the key reference rate unchanged at 6.75%. Poland: Central Bank hikes rates by 50 basis points in July. Therefore, the Bank avoided giving specific forward-looking guidance. This marked the tenth consecutive rate hike since it began its tightening cycle in October 2021. The Monetary Policy Meeting Minutes are a detailed record of the Bank of Poland's policy setting meeting, containing in-depth insights into the economic conditions that influenced the decision on where to set interest rates. The NBP also raised the lombard rate to 1.75%, the rediscount rate to 0.30% and the deposit rate to 0.75%. The NBP's decision came amid rising price pressures, withu001fu001f inflation hitting an over 20-year high of 7.8% in November. Narodowy Bank Polski Since youve just unblocked this person, you must wait 48 hours before renewing the block. Include punctuation and upper and lower cases. This marks the first pause after a long tightening cycle that began in October 2021 to combat inflation, amid mounting growth worries. Ahead of the National Bank of Poland meeting on 9 June we revise up our 2021 GDP and CPI forecasts Customers shopping in Wroclaw, Poland Author The rebound in 1Q21 GDP and the prospects for stronger growth once pent-up demand kicks-off have led us to revise our GDP growth forecast to 5.4% in 2021 from 4.8% YoY expected previously. 6.75. read more. Poland central bank preview: How close to the end of the hiking cycle? This will result in immediate suspension of the commentor and his or her account. Analysts expect further tightening in the months ahead. Avoid profanity, slander or personal attacksdirected at an author or another user. Google+, Facebook Investing.com - The dollar traded higher Wednesday, benefiting from higher Treasury yields, caution ahead of the European Central Banks policy meeting and concerns over global By Peter Nurse Poland Central Bank Monetary Policy Meeting Minutes Latest Release Mar 10, 2022 The Monetary Policy Meeting Minutes are a detailed record of the Bank of Poland's policy setting. Reference rate. 7. Sign up to create alerts for Instruments, Poland: Preview for the delayed central bank meeting A barely communicated delay by two days suggests: (1) the central bank wants to update its projections and (2) similar to the proactive approach in the spring the Council may use: a signalling cut by 10 basis points, commitment to a sizeable asset purchases or private credit facilitating programme CentralBankRates w w w . A Reuters poll of 23 analysts had forecast that the central bank would raise its main interest rate to 1.75% on Wednesday. All quotes delayed a minimum of 15 minutes. 2 Standout Oil Stocks Worth a Look as Energy Sector Shines, Vanguard Total Bond Market II Index Fund Investor, PIMCO Commodity Real Return Strategy Institutional, SG FTSE MIB Gross TR 5x Daily Short Strategy RT 18, Vontobel 7X Long Fixed Lever on Natural Gas 8.06, Dollar Edges Higher; Growing Risk Aversion Helps, Dollar Edges Higher; Central Bank Meetings in Focus. My Cart Our Standards: The Thomson Reuters Trust Principles. The NBP also kept the Lombard rate unchanged at 7.25%, the rediscount rate at 6.80% and the deposit rate at 6.20%. This comment has already been saved in your, Wall Street ends lower after midterm election, CPI in focus, Stock market today: Dow dives on tight midterms ahead of inflation data, Crypto's FTX CEO looking at all options as Binance deal collapses, Chart of the Day: Bitcoin on Path to $10,000. Your ability to comment is currently suspended due to negative user reports. Central Bank stands pat in October. The National bank of Poland ( NBP) surprised markets in October by leaving its main rate on hold at 6.75%, but Governor Adam Glapinski said the decision did not mark the end of the tightening. We do not allow any sharing of private or personal contact or other information about any individual or organization. 9. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. 00-919 Warszawa Trading on margin increases the financial risks. we will see the Czech National Bank meeting on Thursday, which traditionally attracts short positioning with the prospect of an end or . We see the National Bank of Poland hiking rates by 25 basis points at its meeting on 9 November, although the odds of no change are relatively high National Bank of Poland in Warsaw The inflation outlook has not improved and there are even calls from the That said, inflation climbed further to an over 26-year high of 17.2% in September (August: 16.1%) on increased energy tariffs and higher energy and agricultural costs mainly due to the war in Ukraine. July 27, 2022. It may therefore take some time before it appears on our website. The NBP decided to stand pat as it deemed that previous rate hikes were already limiting demand growth. Even negative opinions can be framed positively and diplomatically. See also: Schedule of the publication of the MPC Minutes . Commenting on the Banks decision, Adam Antoniak and Rafal Benecki, economists at ING, stated: The Council rather prefers a longer period of disinflation and soft landing than a prompt return of CPI to 2.5%. | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed, Poland: Manufacturing PMI falls in September, Poland: Business sentiment weakens in October, Poland: Industrial output growth slows in September, Poland: Retail sales growth picks up pace in September. Can DAX Hold Breakout as China Fears Back in Focus. In Hungary, the central bank raised its one-week deposit rate at a weekly tender on Thursday, its fifth rate rise in less than three weeks. In addition, the Central Bank held the Lombard rate stable at 0.50%, the deposit rate at 0.00% and the rediscount rate at 0.11%. Wszystkie prawa zastrzeone. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The Monetary Policy Meeting Minutes are a detailed record of the Bank of Poland's policy setting meeting, containing in-depth insights into the economic conditions that influenced the decision on where to set interest rates. Our central bank calendar shows all upcoming central bank meeting dates. Minutes of the Monetary Policy Council decision-making meeting held on 27 August 2008. Central Bank Dates for April 2022 A Publication of BMO Capital Markets Economic Research Douglas Porter, CFA, Chief Economist, BMO Financial Group . Schedule of Monetary Policy Council meetings, *one-day non-decision-making meeting Narodowy Bank Polski will advise on any changes to the dates of the Monetary Policy Council meetings. c o m. World . . Stock market today: Dow dives on tight midterms ahead of inflation Meta cuts 11,000 jobs as it sinks more money into the metaverse, Oil under pressure as recession fears bite, U.S. CPI data awaited. The decision marked the seventh The NBP also kept the lombard rate at 0.50%, the deposit rate at 0.00% and the rediscount rate at 0.11%. By Peter Nurse Get the NBP Monetary Policy Meeting Minutes results in real time as they're announced and see the immediate global market impact. A top official of the Reserve Bank of Australia (RBA) said on Thursday it might be getting nearer to the point when it might be able to "sit and wait" on raising interest rates, but more evidence was needed that demand was slowing as desired. c b r a t e s . NBP provides banking services to the central government, holds the accounts of government and other central state institutions, state special-purpose funds, as well as central government entities, and executes their payment orders.
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