Head of NBP He compared the situation in Poland, where interest rates began to rise in October last year, with the case of the Czech Republic, where the cycle of raising interest rates began a few months ago, in June 2021.
– Well, the Czechs made a decision in June and inflation is currently 12.7 percent, and the key interest rate in the Czech Republic is now 5.75 percent. Both inflation and interest rates in the Czech Republic are higher than in Poland, despite the fact that it began a cycle of raising interest rates several months ago – the head of the Central Bank emphasized.
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Economists reacted very harshly to these words. Pekao SA bank analysts wrote on Twitter that – by comparing this data – “However, it is also worth remembering that there was a shield against inflation in Poland, not in the Czech Republic. Otherwise, we would see 15% inflation.”
ING Bank analysts think the same
The head of the NBP explained it now The main causes of inflation are global, such as rising gas, oil, electricity and food prices. He added that the increase in prices was also affected by the increasing consumer demand on the part of refugees from Ukraine.
– We keep track of how much they pay for consumer products with their card. We estimate that a 10% increase in consumer demand is 4% of this. This recent increase is related to refugees, Glapinski said at Friday’s press conference. You can read more about the NBP President’s speech here.
The head of the NBP expects it Inflation will peak in June and July of this year, Unless other conditions change.
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