Poland continues tightening in new year

National Bank of Poland entrance and sign
National Bank of Poland
Photo: Andrzej Barabasz (Chepry)

The Polish central bank increased interest rates by 50 basis points on January 4, bringing its policy rate to 2.25%.

The National Bank of Poland has been raising rates from their pandemic low of 0.1% since October, and this is the fourth month it has ordered them increased.

The monetary policy council, the NBP’s rate-setting body, focused primarily on continued high inflation in its accompanying press release. Year-on-year inflation reached 7.8% in Poland in November, the council said, and

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