Jul 30
Poland: Unchanged rates, but perhaps time to soften the rhetoric
Completely as expected, the Polish central bank (NBP) today announced that it has kept its key policy rate unchanged at 6.00% after its Monetary Policy Council (RPP) meeting. Inflation remains well above the NBP's inflation target of 2½% +/-1 percentage point, and we expect this will still be the case well into 2009. Furthermore, with the Polish economy still growing strongly and wage pressures remaining high, we do not expect the NBP to turn dovish anytime soon. That said, we do expect the
