Poland
Effort made to bring Poland closer to eurozone
POLAND - The Finance Ministry and the Central Bank (NBP) have set up a joint group on the strategy of bringing the Polish economy closer to the Eurozone, which will discuss issues related to the zloty exchange rate strategy in the period of entering the…
Independent NBP will consider weaker zloty
POLAND - President Aleksander Kwasniewski, who last week agreed to become a mediator between the government and the Monetary Policy Council (RPP), after meeting the latter on Tuesday, has confirmed his dedication to the independence of Poland's central…
No threat to cb independence says Polish president
POLAND - Alexander Kwansniewski, the president of Poland, in suporting anammendment to bring the bank act in to line with EU standards, offeredreasurrance over the National Bank's independence: "I cannot see any threats to the independence of the central…
Polish governor's bodyguards removed
ARTICLE - The relationship between the government and central bank in Poland continues to deteriorate. A full apology from the government is in order over the latest episode, argues an editorial in the Warsaw Business Journal.
Polish central bank sees independence under threat
POLAND - Poland's government threw down the gauntlet in its fight with the central bank yesterday by backing legislation that, if signed into law, would compromise its independence.
Polish gov't calls for exchange rate discussion
POLAND - Following a government session on Tuesday, finance minister Marek Belka called the central bank's Monetary Policy Council (RPP) to discuss potential proposals aimed at abandoning the policy of no-intervention on the foreign exchange market, and…
Polish central bank head ready for gov't dialogue
POLAND - Polish National Bank (NBP) President Leszek Balcerowicz declared on Thursday he was ready for dialogue with the finance minister but believed that structural reforms and securing higher competitiveness were more important than discussions on the…
Polish cen bank dep chairman favours fixed ex rate
POLAND - Central bank deputy chairman Andrzej Bratkowski said the economy could benefit from a fixed zloty rate in a situation when the inflow of foreign capital linked with the prospect of Poland's EU accession will continue to strengthen the zloty.
Poland's c bank under fire for strong zloty
POLAND - The central bank received more criticism yesterday when the Finance Minister Marek Belka said that it should take action to weaken the zloty.
Poland's c bank boosts reserves by $165m in April
POLAND - The announcement made by the National Bank of Poland (NBP), that it will boost reserves by $165m, signifies that Poland's reserve assets on the last day of April accounted for $27,224bn and were $660m higher than on 31 December 2001.
Polish rate cut too shallow - Fin Min
POLAND - The National Bank of Poland's (NBP) rate cuts on Thursday confirmed the bank's support for the leftist government's economic programme, but Finance Minister Marek Belka hoped for deeper cuts, his spokesman said.
Poland may be some way off euro entry
POLAND - Poland will not join the European monetary union earlier than in 2007, believes Krzysztof Jakubiszyn, advisor to the chief of the central bank.
Polish premier calls for interest rate cut
POLAND - Prime Minister Leszek Miller said on Wednesday he hoped that the Monetary Policy Council (RPP) would support the government in implementing its economic programme by cutting interest rates.
Polish MPC member says gov't missed reform chance
POLAND - A member of Poland's ten strong Monetary Policy Council, Boguslaw Grabowski, has said that Poland's leftist government missed a great opportunity to make deep fiscal and structural reforms in the first months after taking power last October.
Polish PM scales back anti-central bank rhetoric
POLAND - Polish Prime Minister Leszek Miller softened hostile rhetoric against the country's central bank on Sunday but kept intact the message that bankers should stop damaging the limp economy with high interest rates.
Poland's c bank intends to cut mandatory reserves
POLAND - Poland's central bank NBP intends to decrease the level of mandatory reserves to 2% from the current 4.5% with the aim of adjusting the Polish system in line with EU standards, according to the NBP's task schedule for 2002-2004.
IMF stresses Polish c bank must remain independent
POLAND - The International Monetary Fund expects a limited reduction in official Polish interest rates in 2002, as 900 basis points of cuts over the past 12 months take effect, but it harshly criticized government coalition members' attacks on the…
Polish MPC leaves rates steady despite pressure
POLAND - The National Bank of Poland (NBP) defied political pressure on Wednesday by leaving interest rates unchanged, matching market expectations but risking a run-in with the government over how to revive the economy, report Reuters.
Full integration for Poland's c bank in 2003
POLAND - Poland's central bank will be fully integrated with the European Central Banks System in 2003, National Bank of Poland President Leszek Balcerowicz told a Monday briefing.
IMF sees EU candidates joining euro earliest 2008
POLAND - The Internationl Monetary Fund (IMF) said on Thursday that it would take European Union candidates as long as four years to join the euro zone after planned EU accession in 2004.
Central bank independence should be preserved-IMF
UK - The IMF on Wednesday criticised moves in Israel and Poland to limit the independence of their central banks.
Polish central bank - Support early euro entry
POLAND - The European Union should encourage new members of the bloc to adopt the euro as their national currency as early as possible, the president of the Polish central bank said Monday.
Polish c bank says early euro benefit to E Europe
POLAND - The early adoption of the euro by European Union accession countries will reduce economic turbulence in those nations and will not damage confidence in the single currency, Polish central bank governor Leszek Balcerowicz said on Monday.
Polish bank cautious about economic plan
POLAND - Two weeks after Poland's government issued an ambitious five-year strategy to kick-start slumping economic growth, the National Bank of Poland has maintained a stony silence.