Poland
Polish governor says inflation will rise slower than expected
Inflation will not turn positive in January 2016 as previously expected, governor Marek Belka says; monetary policy council keeps policy rate unchanged
Researchers find ‘strong evidence’ of ECB policy spillovers to CEE countries
Working paper examines the spillover effects of the ECB’s ‘non-standard’ measures since 2007 on the Czech Republic, Hungary, Poland and Romania
Mandate change proposal would be unconstitutional, Polish governor says
Bank governor says giving the central bank a growth mandate would not be permissible under EU law; senior figures in governing party call for monetary easing programme
Polish governor criticises five presidents’ report
Marek Belka says proposals contain ‘some good ideas’ but are ’timid and vague’ about what should be done in the longer-term; speaks alongside Ewald Nowotny at Warsaw conference
Research draws on lessons from Polish prudential policy
The implementation of loan-to-value (LTV) and debt-to-income (DTI) ratios successfully manages credit risk, but the housing loan portfolio remains a concern
IMF economists release study on LTV and DTI limits in six countries
Working paper studies the implementation and effectiveness of loan-to-value and debt-service-to-income limits in Brazil, Hong Kong, Malaysia, Poland, Romania and South Korea
Czech director: US dollar helps compensate for impact of oil prices on CEE countries
Luboš Komárek discusses the outlook for Central and Eastern European countries, including the favourable outlook for Germany, which is a "crucial trade partner" for many in the region
Poland publishes forecasts behind ‘final’ rate cut
Economics Institute within central bank lowers forecast for inflation in 2015 to -0.5%, down from 1% in November; MPC says last week’s cut ‘concludes’ its easing cycle
Polish paper explores market perception of sovereign credit risk
Working paper finds macroeconomic and institutional developments were 'weakly correlated’ with market perception of sovereign credit risk in eurozone during crisis
Polish paper examines impact of foreign currency loans
Foreign currency loans restrict the transmission of monetary policy to the real economy but do not have a 'significant' impact on efficacy of macro-prudential measures, paper finds
NBP warns ECB-Fed mismatch may impair policy-making
Polish central bank says divergence of European and US monetary policy is likely to create problems for policy-makers elsewhere, especially in small, open economies
Prosecutors drop investigation into controversial comments by National Bank of Poland governor
Marek Belka did not break the law when calling for finance minister's removal in leaked recording
Polish financial stability goes from strength to strength, report says
National Bank of Poland financial stability report says banking system is more resilient than ever, but threats from the outside environment remain
Polish paper finds ‘substantial decrease’ in impact of exchange rate on consumer prices
Researchers say the exchange rate channel of the monetary policy transmission mechanism has weakened, but inflation has become more responsive to interest rate changes
Poland governor Belka's comments cause political storm
Conversation from last summer shows NBP governor called for finance minister to be replaced, and made disparaging remarks about colleagues on the MPC
Poland still has euro doubts after decade in EU
The National Bank of Poland could need two years to make technical adjustments before the country can join the eurozone; ERM II presents another hurdle
Lithuania governor woos eurozone counterparts
Vitas Vasiliauskas meets central bank heads across eurozone to present Lithuania’s case for entry; Marek Belka calls for review of Poland’s euro prospects
ECB paper tests resilience of Polish economy to interest rate shocks
Researchers find that output and prices in Poland have become more resilient to both interest rate and exchange rate shocks over the past two decades
Four more countries have ‘systemically important' financial sectors, says IMF
New methodology qualifying countries for IMF's financial sector assessment programme means Denmark, Norway, Poland and Finland will now undergo regular check-ups
Polish paper says monetary policy transmits mainly through real sector
Researchers at the National Bank of Poland build a structural vector-autoregression model that includes both fiscal and monetary policy
Polish paper explains perceptions of higher inflation
Economists at the National Bank of Poland construct a consumer perceived price index that reflects the population’s loss aversion to price increases
Polish economists say rate cuts damaged trust in ECB
Working paper says central bank interest rate cuts can damage public trust if they come at a time when households have ‘pessimistic expectations'
Poland's business cycle largely a function of EU developments
According to IMF paper, eurozone developments explain 50% of Poland's output and interest rate business cycle variance, but only 25% of changes in headline inflation
Polish paper presents new method for constructing fan charts
Fan charts are an increasingly popular tool for depicting forecasts; working paper proposes a new method for formulating the charts that incorporates 'a mix of judgment and statistics'