{"id":1673724,"date":"2022-10-05T10:53:57","date_gmt":"2022-10-05T14:53:57","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1673724"},"modified":"2022-10-05T10:54:16","modified_gmt":"2022-10-05T14:54:16","slug":"polish-central-bank-holds-rates-points-to-slowdown-ahead","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/polish-central-bank-holds-rates-points-to-slowdown-ahead\/","title":{"rendered":"Polish central bank holds rates, points to slowdown ahead"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpolish-central-bank-holds-rates-points-to-slowdown-ahead%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1673724&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Anna Koper<\/p>\n<p>WARSAW (Reuters) -The National Bank of Poland (NBP) kept its main interest rate on hold at 6.75% on Wednesday, it said, opting to leave borrowing costs unchanged despite soaring inflation as it warned of an economic slowdown in the coming months.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>With regional peers finishing monetary tightening cycles, Polish policymakers had also signalled that the end of rate hikes was near. <\/p>\n<p>However, with inflation rising to 17.2% in September, the highest since 1997, most economists had predicted that the cost of credit would continue to rise.<\/p>\n<p>Economists polled by Reuters had expected the main rate to rise to 7.00%.<\/p>\n<p>\u201cThe Council assessed, that the hitherto significant monetary policy tightening by NBP\u2026 will contribute to curbing demand growth in the Polish economy, which will support a decline in inflation in Poland towards the NBP inflation target,\u201d the banks said in a statement.<\/p>\n<p>The bank said it expected economic growth to slow in the coming quarters.<\/p>\n<p>\u201cIn our opinion, the economic situation in Europe and the USA shows that there is less room for further rate hikes,\u201d the Polish Economic Institute said in a note.<\/p>\n<p>\u201cPossible further increases will be a reaction to unexpected increases in inflation or strong currency depreciation.\u201d<\/p>\n<p>However, ING analysts said that they expected further tightening in 2024 due to high inflation, and said that relying on an economic slowdown to curb price growth was \u201crisky\u201d.<\/p>\n<p>The Polish zloty was 0.48% weaker against the euro at 1420 GMT.<\/p>\n<p>The Polish decision follows similar moves in Hungary and the Czech Republic.<\/p>\n<p>In Hungary the central bank raised its base rate by a larger-than-expected 125 basis points to 13% in September but said it was ending its rate-hike cycle amid a slowing economy, while in the Czech Republic policymakers kept rates steady at 7.00% for a second time in a row.<\/p>\n<p>Romania\u2019s central bank lifted its benchmark interest rate by a more than expected 75 basis points to 6.25% on Wednesday.<\/p>\n<p> (Reporting by Alan Charlish, Anna Koper, Pawel Florkiewicz, Anna Wlodarczak-Semczuk, Editing by William Maclean and Gareth Jones)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/polish-central-bank-holds\/attachment\/file-photo-cars-pass-in-front-of-the-polish-central\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI940RG-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI940RG-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Anna Koper WARSAW (Reuters) -The National Bank of Poland (NBP) kept its main interest rate on hold at 6.75% on Wednesday, it said, opting to leave borrowing costs unchanged<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1673724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1673724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1673724"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1673724\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1673724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1673724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1673724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}