The Polish MPC left interest rates unchanged today, but recent comments from Governor Glapinski suggest that he is becoming increasingly concerned about the strength of the labour market. We think this is justified and expect strong wage growth to feed into a pick-up in inflation over the coming months, triggering the first rate hike later this year. Elsewhere, Romania’s MPC continued its monetary tightening cycle and we think interest rates will be raised by more than most expect over the rest of this year.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services