According to economists, interest rates next year are likely to remain unchanged. It is a sign that the series of cuts have already expired, and stabilization may take up to the end of 2014. The decision about the lack of change in interest rates is due to the fact that the majority of the members of the Monetary Policy Council was a complement to the cycle of interest rate cuts – reports portal www.forbes.pl .
Some MPC members do not rule out re-adjust the interest rate, however, the March data did not indicate clearly to lower economic activity and lower inflation than expected in the March inflation projection Polish National Bank. The decline in inflation to 1.3% in February of this year and for the fol- lowing months may constitute a valid argument at the next MPC meeting.
It is worth noting that the data about the current low or even expected inflation will not however constitute sufficient grounds for a reduction in interest rates. The current situation is related to, inter alia, the precarious economic situation in Cyprus, the weather conditions in Poland and Europe. Thus, most likely until June comes to the next minimum rate cuts, because then it’ll be very certain that the current inflation running below the path outlined in the March inflation projection of the NBP.
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Author: H.Mikulska / Kredito24 Photo: R.Sturm / Pixelio.de