Much cheaper loans, lower returns from bank deposits, increases in the stock market and the large volatility of the national currency – these are the effects of yesterday’s decision of the Monetary Policy Council in the coming months. Marek Belka trying to do everything to stimulate economic growth in Poland. Can effectively?
The Monetary Policy Council has cut interest rates to the lowest level in the history of two percent. Had no choice. The growth rate of prices and services, commonly known as inflation, fell for the first time in 20 years below zero. It’s a big problem for the Council, because its task is to keep inflation at 2.5 percent, with a fluctuation band of plus or minus one percentage point.
In addition to this all indicates that Polish GDP growth in the near future will be much weaker , than is consistent with expectations from the first part of the year. Two days ago, the International Monetary Fund has said that the domestic economy this year will grow by 3.3 not, but by 3.2 percent, mainly by the still disastrous condition of the euro area. The Monetary Policy Council, lowering the cost of money, he wants to persuade the Poles to take out new loans and improve the outcome of GDP.
On the following pages read, or cut actually affect the economy and what effect will have on the wallets of the Poles.
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