NBP’s Juliusz Jabłecki on geopolitics, bitcoin and gold
Director of financial risk management department talks tactics versus strategy, operations following breakout of war in neighbouring Ukraine, FX interventions and independent risk-taking

In the last decade, the National Bank of Poland’s foreign exchange reserves have more than doubled, and are among the top 20 highest in the world. They stood at $229.2 billion in February. Governor Adam Glapiński said in an NBP book published last year that the central bank for years had been preparing “analytically, operationally and legally” for a potential crisis like that of 2008–09 developing in Europe or globally. In what ways has the investment strategy and strategic asset allocation
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