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NBP in no rush to tighten policy

Poland’s central bank left interest rates on hold today and, while it revised up its GDP growth and inflation forecasts, there was little sign in the accompanying press statement that the balance on the MPC has shifted further away from the ultra-dovish stance of the past year. We doubt that there will be a majority in favour of raising interest rates until mid-2022 at the earliest.
Jason Tuvey Senior Emerging Markets Economist
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