Poland: Slow, but Steady Progress

Politics ♦ Published: August 2, 2013; 18:29 ♦ (Vindobona)

Poland´s National Bank anticipates a longer term of interest rate stabilization. The economic trend reversal will come in the third quarter, rate setter Andrzej Bratkowski stated.

Poland: Slow, but Steady Progress / Picture: © Wikimedia Commons [CC0 1.0] / Pixabay [CC0 Creative Commons]

According to Bratkowksi, Poland faces an economic trend reversal. Already at the end of 2011, Poland´s economic growth decelerated. However, NBP even increased the interest rate from 4.50% to 4.75% in May 2012. The first base rate cut was resolved in summer 2012. After a growth rate of 4.5% two years ago, the lasts quarterly growth rate came at 0.2%. In the second quarter, economists…