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☆ Analysis: Inflation, budget risks await Polish vote winner
  + stars: | 2023-09-25 | by ( Karl Badohal Pawel Florkiewicz Gergely Szakacs | Karl Badohal | Pawel Florkiewicz | ) www.reuters.com   time to read: +6 min
[1/2] A general view of Polish shoe retailer CCC shop is pictured, amid the coronavirus disease (COVID-19), in Warsaw, Poland, September 8, 2020. "Let me tell you, there was a time when I couldn't even afford to buy salmon, for example. Buczek has benefited from the fact that PiS has raised her pension as part of hefty welfare spending moves which, opinion surveys show, are easing Poles' concerns over high inflation. The Polish minimum wage, already the highest in central Europe, will rise by nearly a fifth next year. With many houseowners on variable loan rates, Warsaw recently extended a scheme for mortgage repayment holidays into next year.
Persons: Kacper, Jadwiga Buczek, Buczek, PiS, Steffen Dyck, Adam Glapinski, Fitch, Federico Barriga Salazar, Andrzej Kuzniak, Moody's Dyck, Kacper Pempel, Jan Strupczewski, Gergely, Mark John, Sharon Singleton Organizations: REUTERS, Reuters, Justice, European Union, European Commission, National Bank of, Sovereign Risk, Moody's, International Monetary Fund, Civic Coalition, Thomson Locations: Warsaw, Poland, WARSAW, Poland's, Europe, NBP, Brussels
☆ Hungary central bank could cut base rate to 10-11% by year-end, rate setter says
  + stars: | 2023-09-14 | by ( Gergely Szakacs Krisztina Than | Gergely Szakacs | Krisztina Than | ) www.reuters.com   time to read: +3 min
Member of the rate-setting Monetary Council of the National Bank of Hungary Gyula Pleschinger speaks during an interview with Reuters in Budapest, Hungary, September 14, 2023. REUTERS/Krisztina Than Acquire Licensing RightsBUDAPEST, Sept 14 (Reuters) - Hungary's central bank could cut its base rate to 10-11% by the end of the year from 13%, a rate-setter told Reuters, warning however against big or unexpected moves amid the fallout from a larger-than-expected rate cut in Poland last week. Once that alignment takes place, the NBH will simplify its policy toolkit further, which could include making the interest rate corridor around its base rate symmetrical, he said. "From that point onwards, we will take all of our steps in a very serious, data-driven mode, looking at the market, tracking the market," Pleschinger said. Asked about the fallout from the National Bank of Poland's much-larger-than-expected 75 bps interest rate cut last week that saw regional currencies weaken, Pleschinger said Hungary's central bank should tread carefully.
Persons: National Bank of Hungary Gyula Pleschinger, Gyula Pleschinger, unwinding, Pleschinger, Disinflation, Gergely Szakacs, Hugh Lawson Organizations: National Bank of Hungary, Reuters, REUTERS, Rights, European, National Bank of, Thomson Locations: Budapest, Hungary, Poland, National Bank of Poland's
☆ Poland's Central Bank Surprises With Sharp Interest Rate Cuts Despite Double-Digit Inflation
  + stars: | 2023-09-06 | by ( Associated Press | Sept. | At A.M. | ) www.usnews.com   time to read: +3 min
WARSAW, Poland (AP) — Poland's central bank lowered its interest rates by 75 basis points on Wednesday despite the country's double-digit inflation rate. The National Bank of Poland's monetary policy council announced that it was cutting the reference rate from 6.75% to 6%, and other interest rates by the same amount. Economists had been expecting a rate cut, but not such a large one. In conditions of high inflation, central banks tend to raise interest rates, a move that can help bring down inflation over time by discouraging consumption. Interest rate cuts, on the other hand, make financing cheaper and tends to encourage consumers and businesses to spend more.
Persons: Adam Glapinski, Marek Tatala, “, Ryszard Petru, ” Petru Organizations: National Bank of, Law, Justice, Freedom Foundation, Twitter Locations: WARSAW, Poland, National Bank of Poland, Warsaw, Ukraine
☆ No conditions for Polish rate cuts until end of 2025, says c.banker Kotecki
  + stars: | 2023-03-16 | by ( ) www.reuters.com   time to read: +1 min
"Today there are not conditions (for rate cuts) until the end of the projection period, so until the end of 2025," he told private broadcaster TOK FM. Glapinski has said he expects inflation to fall to single digits at the turn of August and September. However, Kotecki said that inflation did not show signs of weakening and that prospects of it reaching single digits by the end of the year were receding. "What worries me is that inflation still does not show significant, lasting signs of weakening," he said. Reporting by Alan Charlish and Marek Strzelecki; Editing by Toby Chopra and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.
☆ Analysis: Central Europe's policymakers try to call time on rate hikes
  + stars: | 2022-09-27 | by ( Jason Hovet | ) www.reuters.com   time to read: +5 min
Czech Crown coins are seen in front of a displayed logo of Czech central bank (CNB) in this picture illustration taken April 1, 2017. Whether it can do so will depend much on wage pressures subsiding and how much a weakening market mood will hurt its currencies. "In Hungary, I think there is still road ahead (for rate hikes)," Juraj Kotian, an economist with Erste Group Bank, said. read moreAnalysts, though, see further rate hikes even after Tuesday. In August, the inflation rate slowed to 17.2% - the first sign of a price peak in central Europe.
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