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Reuters
5 days ago
- Business
- Reuters
Poland's BLIK payment system plans to expand into CEE and Austria, PKO BP CEO says
SOPOT, Poland, June 4 (Reuters) - Polish mobile payment system BLIK plans to expand into Central and Eastern Europe (CEE), including Austria, Poland's biggest lender PKO BP ( opens new tab CEO Szymon Midera said on Wednesday. The expansion will involve cooperating with leading regional banks in the area to replicate BLIK's domestic success, he told the annual European Financial Congress. "Only in this way can we enable the further development of BLIK abroad and ensure, within a few years, a doubling of the volume that BLIK has generated in the Polish market," Midera said. BLIK is Poland's most popular mobile payment system with over 16 million users and over 2.4 billion transactions in Poland as of 2024. It is operated by Polski Standard Platnosci (PSP) and jointly owned by several major Polish banks, including PKO BP.
Yahoo
05-03-2025
- Business
- Yahoo
Rate cuts in Poland may start in the second half of 2025, says IMF representative
WARSAW (Reuters) - Monetary policy easing in Poland may begin in the second half of 2025, International Monetary Found (IMF) representative in Poland Geoff Gottlieb said on Wednesday during the European Financial Congress event in Warsaw. He added that the current level of Polish interest rates was restrictive, "well above neutral rate". "Our view is that cuts possibly can begin in the second-half of this year but should move fairly slowly given all the risks to this inflation," Gottlieb said. "The final step on inflation is not yet done, so it's important not to rush the return to a neutral monetary stance." The National Bank of Poland (NBP) has kept interest rates unchanged since October 2023, with the reference rate at 5.75% and central bank governor Adam Glapinski said in February there were no grounds for lowering borrowing costs at the moment. Inflation was 5.3% in January, while the central bank's inflation target is 2.5% plus or minus one percentage point. Sign in to access your portfolio
Reuters
05-03-2025
- Business
- Reuters
Rate cuts in Poland may start in the second half of 2025, says IMF representative
WARSAW, March 5 (Reuters) - Monetary policy easing in Poland may begin in the second half of 2025, International Monetary Found (IMF) representative in Poland Geoff Gottlieb said on Wednesday during the European Financial Congress event in Warsaw. He added that the current level of Polish interest rates was restrictive, "well above neutral rate". "Our view is that cuts possibly can begin in the second-half of this year but should move fairly slowly given all the risks to this inflation," Gottlieb said. "The final step on inflation is not yet done, so it's important not to rush the return to a neutral monetary stance." The National Bank of Poland (NBP) has kept interest rates unchanged since October 2023, with the reference rate at 5.75% and central bank governor Adam Glapinski said in February there were no grounds for lowering borrowing costs at the moment. Inflation was 5.3% in January, while the central bank's inflation target is 2.5% plus or minus one percentage point.
