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Selected tag: inflation
6 days ago
Rates unchanged, rating unchanged
Globally, markets will follow policy decisions of Fed, BoE, and BoJ. Domestically, we are waiting for Moody’s policy action (and we expect no change of rating) and August manufacturing figures, both of which are scheduled for Friday.
1 week ago
Farewell to rate cuts in Poland
MacroCompass September 2026 - our picture of Poland's economy, macroeconomic forecasts, preview of monthly data readings and the expected scenario of events on financial markets
2 weeks ago
Inflation rises on higher fuel prices, further narrowing room for rate cuts
Poland’s CPI inflation accelerated markedly in August to 3.4% yoy, but once again primarily driven by higher fuel prices, while food prices continued to decline. The rise in core inflation is nevertheless a concern. Today’s data further narrow the window for interest rate cuts.
1 month ago
Fuel prices once again fuelled inflation in Poland
Poland’s CPI inflation accelerated to 3.0% yoy in July, as expected, mainly due to a rebound in fuel prices following the expiry of government protective measures and renewed geopolitical tensions pushing oil prices higher. Both headline and core inflation are expected to remain within the 3.0-3.5% yoy range until the end of the year. In this environment, the Monetary Policy Council (MPC) is likely to remain cautious and postpone decisions on further interest rate changes until there is greater clarity regarding the inflation outlook.
2 months ago
NBP’s Dovish Pivot
Last week, the NBP dropped a dovish surprise on us. Today’s calendar is empty, but the remainder of the week should prove more eventful. In Poland, attention will focus on the final inflation release and the government bond auction. In the core markets, the spotlight will be firmly on US data, including inflation, retail sales and industrial production. Investors will also be watching the new Fed Chair’s first appearance before Congress.
2 months ago
No pressure to change interest rates in Poland
MacroCompass July/August 2026 - our picture of Poland's economy, macroeconomic forecasts, preview of monthly data readings and the expected scenario of events on financial markets