Latest news with #Glapinski
Bloomberg
11-04-2025
- Business
- Bloomberg
Capital Market Should Get Push From Private Savings, Poland Says
Households in Europe should get incentives to move some of their savings to boost capital markets, Poland's central bank Governor Adam Glapinski said. 'Banks are not doing their job when it comes to financing the corporate sector — in particular on innovative projects,' Glapinski told his European counterparts in Warsaw on Friday, according to a statement from the central bank. 'Therefore, we could consider introducing incentives for households to transfer some of their large savings from banks to the capital market.'
Bloomberg
03-04-2025
- Business
- Bloomberg
Poland's Central Bank Governor Sees Rate Cuts Coming Soon
Polish central bank Governor Adam Glapinski said policymakers may soon cut interest rates after adopting a 'dovish' stance in a shock about-face that sent the zloty and Warsaw-listed stocks tumbling. Speaking a day after the Monetary Policy Council left the benchmark at 5.75%, Glapinski said slower-than-expected inflation in the first quarter triggered a 'radical shift' in policymakers' outlook.
Bloomberg
27-03-2025
- Business
- Bloomberg
Poland's Glapinski Keeps Hawkish Outlook, Unswayed by Soft Data
Polish central bank Governor Adam Glapinski stuck to his guns regarding the need for interest rates to stay on hold, unswayed by data showing softer-than-expected inflation and growth dynamics. In his first public comments since March 13, Glapinski repeated that inflation trends didn't leave any room for rate cuts and stressed the need to reduce price growth, which surged to a two-decade high in 2023.
Yahoo
13-03-2025
- Business
- Yahoo
Poland to Keep Interest Rates Steady as Economy Rebounds
(Bloomberg) -- Improving economic prospects and persistent inflation are likely to prompt Poland's central bank to keep the country's interest rates unchanged for yet another month. NYC Congestion Pricing Toll Gains Support Among City Residents Trump DEI Purge Hits Affordable Housing Groups Electric Construction Equipment Promises a Quiet Revolution Where New York City's Zoning Reform Will Add Housing Open Philanthropy Launches $120 Million Fund To Support YIMBY Reforms The Monetary Policy Council will leave the benchmark at 5.75% on Wednesday, according to all 33 economists surveyed by Bloomberg. The central bank will also publish its latest staff forecasts through 2027, shedding more light on where inflation and interest rates might be headed. Last year, many policymakers, including Governor Adam Glapinski, sought to tee up the March meeting as the moment when they would start discussing or even deliver a rate cut. 'Today this is no longer the case,' Pekao analysts led by Ernest Pytlarczyk said in a note. He referred to Glapinski's sudden about-face in December, when the governor unexpectedly delayed cuts beyond 2025. The sudden shift in tone sparked accusations from the front-runner in May's presidential election, Rafal Trzaskowski. He suggested Glapinski, who was appointed by the previous nationalist government, was doing the opposition's bidding. Parliament Speaker Szymon Holownia also called on the governor to cut rates, saying that 'Poland is the European champion of expensive loans.' Glapinski has repeatedly said he's acting independently and called on the critics to keep the central bank out of politics. He has also continued to stress the risks of an inflation rebound later in the year because of the government's plan to remove caps on energy prices. When the governor addresses the media to explain the decision on Thursday, his stance is unlikely to change. The most recent data showed a recovery in investment at the end of last year, sparking optimism that economic growth won't be driven only by consumption. 'Monetary Policy Council members will wait for the presidential election and clear information from the government on electricity prices for households,' Bank Millennium analysts led by Grzegorz Maliszewski said in a note. How Natural Gas Became America's Most Important Export How America Got Hooked on H Mart Disney's Parks Chief Sees Fortnite as Key to Its Future Germany Is Suffering an Identity Crisis 80 Years in the Making The Mysterious Billionaire Behind the World's Most Popular Vapes ©2025 Bloomberg L.P. Sign in to access your portfolio
Reuters
13-03-2025
- Business
- Reuters
No reasons for cutting Polish interest rates now, central bank chief says
WARSAW, March 13 (Reuters) - Polish central bank Governor Adam Glapinski said on Thursday there were no reasons for cutting interest rates at the moment due to the outlook for inflation and he did not think that the current level of rates was a barrier to economic growth. Poland's central bank, or NBP, left its main interest rate unchanged at 5.75% as expected on Wednesday. "The current strong increase in inflation, with still high wage dynamics, although decreasing, with increased core inflation and ongoing economic recovery and loose fiscal policy do not provide any grounds for lowering interest rates at the moment," he told reporters. "The current level of NBP interest rates is not a significant barrier to the development of the economy and investments." The central bank also trimmed its inflation forecast for 2025 on Wednesday but raised its prediction for 2026 in its March projections, raising the risk that price growth could remain above the bank's target range throughout next year. Glapinski said on Thursday that inflation would return to the central bank's target of 2.5% only in 2027 after ending 2025 at around 5% year on year, with core CPI at 4% throughout the year. Even though Glapinski sees no scope for rates cuts now, he said the central bank did start discussing when they could come. "The majority of the Council asked to say that almost all Council representatives - not all, but many - were analysing the possibility of a rate cut and when it could take place," he said.
