Poland
Poland's central bank pushing for euro adoption
Central bank president Leszek Balcerowicz has said that the adoption of the euro by Poland in the years 2006-2007 would be beneficial, but only if the budget deficit is tackled. The European Commission is apparently discouraging the move in a new, still…
Polish central bank cuts interest rates
Poland's central bank decided Wednesday to lower key interest rates, its eighth cut this year in response to record low inflation and the country's sluggish economy. Last month the central bank cut rates and said at the time that the rate cutting cycle…
Poland sees risk of delaying EMU entry
A member of the Monetary Policy Council (RPP) of the central bank, Boguslaw Grabowski, sees a risk of delay in Poland's accession to the euro zone because of possible problems in reducing the budget deficit.
Fin min - Polish currency strength temporary
POLAND - Minister of Finance and Deputy Prime Minister Grzegorz Kolodko says he would like a lower exchange rate and wants the central bank to help.
Polish gov't worried about overvalued currency
POLAND - The Polish government continues to believe that the zloty is overvalued and interest rates too high, Prime Minister Leszek Miller said Wednesday.
Polish rate cut may be last - Balcerowicz
POLAND - Chairman of the Polish National Bank [NBP] Leszek Balcerowicz said on Thursday that October's interest rate reduction, that had surprised the market, did not have to mean another reduction.
Poland surprises market with rate cut
POLAND - Poland's central bank took markets by surprise on Wednesday with a half-point cut in interest rates, its third policy easing in as many months.
Poland's central bank warns of bad debt increase
POLAND - The National Bank of Poland (NBP) has published calculations indicating a 21 percent increase in the level of bad debts on loans granted by banks to corporate clients.
Balcerowicz: Maastricht convergence opportunity
INTERVIEW - Summary of an interview with Leszek Balcerowicz, governor of the National Bank of Poland and chief of its Monetary Policy Council. The interview was published in a recent issue of Gazeta Wyborcza.
Polish gov't may seek halt to c bank independence
POLAND - The Sejm (lower house of parliament) public finances committee will resume legislative work on changes in the law on the Polish National Bank (NBP) after it has finished work on the 2003 budget, that is in the second half of November, committee…
National Bank of Poland - Annual Report 2001
ANNUAL REPORT - The National Bank of Poland has published its Annual Report for the year ended 2001.
Polish central bank wants Poland in euro zone 2006
POLAND - The Polish National Bank (NBP) wants Poland to join the euro zone in 2006, but does not rule out that the entry will take a year later, PAP News Agency reported NBP Deputy Governor Andrzej Bratkowski as saying on Tuesday.
Poland's central bank to maintain floating rate
POLAND - Poland's Central Bank (NBP) will maintain the free-floating exchange rate, the institution's head Leszek Balcerowicz announced on Tuesday.
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…
Poland's central bank cuts rates
POLAND - Poland's central bank on Wednesday reduced its key interest rates by a half percentage point, making its sixth cut this year against the backdrop of a sluggish economy and falling inflation.
Polish gov't freezes top state officials salaries
POLAND - The government decided to freeze salaries of top state officials in 2003, government spokesman Michal Tober told a news conference on Tuesday. The freeze includes all senior central bank staff.
Poland's c bank head concerned over debt-GDP ratio
POLAND - Central Bank President Leszek Balcerowicz expressed concern over the growth of public debt in relation to GDP while speaking to Radio One in Poland on 29 August.
Poland: Fin Min, central bank want fast euro entry
POLAND - A joint finance ministry and Polish National Bank team that is preparing an exchange rate strategy before Poland's entry to the European Union, agreed that Poland should join the euro zone as a matter of urgency, Deputy Finance Minister Ryszard…
Polish Statute questioned by Banking Supervisor
POLAND - Bank Gospodarki Zywnosciowej (BGZ) statute changes that would give the Polish state treasury a privileged position among shareholders have been challenged by the central bank president Leszek Balcerowicz, who also chairs the Banking Supervisory…
Stagnation warning from Poland's central bank
POLAND - GDP increases and the business climate will remain low in the third quarter of the year while economic growth will be buoyed by exports, the Polish National Bank said in a business climate research report released on Tuesday.
The Polish conflict
Stanislaw Gomulka surveys the institutional causes and economic consequences of the bitter dispute between the government and central bank in Poland. The inexperience of both suggests a European solution.
Polish e-signature centre may break EU law
POLAND - The privileged position of Centrast accreditation centre and the high fees that the subsidiary of the central bank plans to charge may be against the rules set forth in an EU directive on the e-signature, released in 1999.
Poland moves closer to the euro
POLAND - The National Bank of Poland (NBP) and Finance Ministry officials have begun to prepare a long-term strategy on adopting the euro, a senior central bank official has said.
Floating rates are good for Zloty says Balcerowicz
POLAND - "We won't have fast economic growth if we don't heal public finances," said Leszek Balcerowicz, governor of Poland's central bank, in a speech before parliament on Tuesday.