Polish central bank confirms 2003 inflation target

POLAND - Criticism of the government's 2003 budget draft has begun to eat into some of its expectations. The Monetary Policy Council (RPP) and central bank are especially dubious with regard to the economic growth rate, set at 3.5 percent by Finance Minister Grzegorz Kolodko, Polish News Bulletin.

The RPP's forecast is 2-3 percent. The NBP has maintained its 2003 inflation target, announced last June, of 2-4 percent. The RPP will accordingly adjust the central bank's interest rates to the fixe