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EU forecast for Poland: 3.5% economic growth
The European Commission has in its Autumn forecast, estimated that the economic growth in Poland has increased. While the Commission had estimated in the Spring that the economic growth would be 3.3%, its forecast has been adjusted to 3.5%. For the coming year, Brussels expects economic growth of 3.5%. Poland...
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National Bank of Poland (NBP) has cut interest rates for the first time since Summer 2013
The Monetary Policy Council (MPC) of the NBP has cut their interest rates for the first time since Summer 2013. Financial experts regarded this step as long overdue, but they have been surprised by the rate cut of 50 percentage points. Most of the market experts predicted 25 percentage points.
NBP’s vision for the economic development of Poland
In November, experts from NBP’s (Narodowy Bank Polski) Economic Institute presented their vision for the economic development of Poland, projecting inflation and GDP. In general the report shows that inflation and GDP will be lower than the figures forecast in July.
The inflow and outflow of foreign currency
In order to determine exchange differences on a foreign currency account, the inflow and outflow of foreign currency needs to be valued. As a rule, for the purposes of this valuation, the actually applied exchange rate is used, and if it is not possible to use that rate, the average...
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National Bank of Poland (NBP): definitely the last interest rate cut
The Interest Rate Setting Council of the National Bank of Poland (NBP) has cut the prime rate by a further 25 basis points at the beginning of July. The reference prime rate herewith stays on the historical all-time low of 2,5%. While in the past the vague declarations of the...
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The National Bank of Poland reduced the base rate by 0,25% points to 3%
The monetary council of the National Bank of Poland reduced the base rate by 0,25% points to 3%. Such a low level hitherto never happened. Economists and Analysts showed their big surprise on this base rate decision, insofar as the President of the National Bank of Poland, Mr. Marek Belka,...
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Reporting towards the Polish National Bank (NBP)
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Date23 May 2013
A number of obligations exist in Poland with regard to submission of reports to the National Bank of Poland (NBP). These requirements apply to entities having their registered offices in Poland, and Polish branches of foreign companies engaged in foreign-exchange turnover with other countries, or having their assets/liabilities expressed in...
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Reporting to National Bank (NBP)
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Date22 Apr 2013
Except for preparing financial statements, Polish law obliges selected units to additional reporting obligations, in particular reports are to be filed with the National Bank of Poland (NBP). This PDF explains everything in English. Most information can be found here in Polish, along with some English. Limited information can be...
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Monetary Policy Council reduces the interest rates
In the past the Monetary Policy Council of the National Bank always stuck to its more conservative approach to interest rate policy. However, it seems that the Monetary Policy Council became more responsive to current economic turbulences and for the shortest fourth consecutive time (since November) reduces the interest rates....
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