AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
(From Polish News Bulletin)
Anyone who has expected the National Bank of Poland will follow in coming months the European Central Bank, the central banks of Brazil and Turkey lowering interest rates can drop this bet. Poland's inflation rate unexpectedly jumped to a six-month high, dashing hopes policy makers can weather slowing economic growth with lower borrowing costs. - SIX-MONTH HIGH CPI
Annual inflation rate reached 4.8 percent in November, up from 4.3 percent in October, beating market expectations of a 4.5-percent rate. Faster inflation was driven by food and drug prices as well as the weak zloty.
While the weak zloty helps exporters as their products are now more competitive abroad, which offsets partly waning foreign demand, it will be particularly painful in the winter season, when imports of food and fuels rise.
The Polish currency fell about 13 percent to the euro over the past six months. It has already boosted monthly payments of the foreign currency-denominated mortgages and other loans though it has not affected yet consumer demand. - COSTLY IMPORTS
The leading inflation indicator, compiled by the …