Polish economy waiting for slower growth and a prolonged period of low inflation – this according to a report on inflation and GDP, which experts have prepared the Polish National Bank. The document is one of the most important, on the basis of the Monetary Policy Council makes decisions on interest rates.
This year will be the inflation of just 0.1 percent. Next year it will be 1.1 per cent., But at the same time reduces the NBP to 3 percent. GDP growth forecast. According to economists, the central bank this year will be 3.2 percent.
– The revision of the forecast economic growth to the greatest extent – an average of 0.5 percentage points. – Covers the years 2014-2015. This correction is related to adverse developments in the environment of the Polish economy and a reduction in the projected use of EU funds – can be read in the report of the NBP.
In 2016, inflation is expected to reach 1.6 per cent., And economic growth re-accelerate to 3.3 percent.
The main economist of Raiffeisen Polbanku Marta Petka-Zagajewska believes that the interest rate cut is possible at all times. Stresses, however, that such a decision will not be the result of a report that members of the Board knew as early as last week, when the left foot at the current level. Marta Petka-Zagajewska expects to cut interest rates by a quarter point is possible as early as next month, for example, if industrial production data prove weaker than expected.
Economists believe NBP that observed in Poland deflation, or a decline in the general level of prices is a result of, inter alia, cheap food, which is due to high fertility and the Russian embargo on Polish products.
They added that although deflation will not be long, however, the pace of price growth will remain at a low level.
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