Top Stories
Polish c. banker Kotecki says rates should be several percentage points higher
Global Banking & Finance Review®
Company
WARSAW (Reuters) – Polish central bank has several percentage points of space to increase interest rates as inflation is set to keep rising and Poland doesn’t face recession, rate setter Ludwik Kotecki said on Friday.
WARSAW (Reuters) – Polish central bank has several percentage points of space to increase interest rates as inflation is set to keep rising and Poland doesn’t face recession, rate setter Ludwik Kotecki said on Friday.
“In my opinion there are several percentage points of space,” Kotecki told TVN24 television when asked to what level rates in Poland should be increased.
(Reporting by Marek Strzelecki and Pawel Florkiewicz)
A central bank is a financial institution responsible for managing a country's currency, money supply, and interest rates. It oversees the banking system and implements monetary policy to ensure economic stability.
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is typically measured as an annual percentage increase.
Interest rates are the cost of borrowing money or the return on savings, expressed as a percentage of the principal amount. They are influenced by monetary policy and economic conditions.
Monetary policy refers to the actions taken by a central bank to control the money supply and achieve specific economic goals, such as controlling inflation and stabilizing the currency.
A recession is a significant decline in economic activity across the economy, lasting more than a few months. It is typically visible in real GDP, income, employment, industrial production, and wholesale-retail sales.
Explore more articles in the Top Stories category
