The main interest rate, let us remind you, remained at 3.75%. However, the market is already starting to fear a rate increase, although economists point to the surprisingly low May inflation reading.
– First of all, I would like to boast, on behalf of the National Bank of Poland I received an award, a unique distinction, the most important in the field of central banking, awarded for the outstanding development of central banking, financial stability and international cooperation in the field of monetary policy – began Prof. Glapiński, pointing out that this award was previously received by Christine Lagarde.
He informed that the NBP currently has approximately 613 tons of gold in its resources and is aiming for 700 tons. The value of this gold is PLN 324.2 billion. The unrealized profit amounts to PLN 153 billion.
— Inflation has decreased and is still within the range of deviations from the NBP target. Inflation is the result of fuel being more expensive than in previous quarters due to the conflict in the Middle East, he emphasized.
He added that the market is very sensitive to rumors and speculations, and oil prices have fallen, although they are still much more expensive than at the beginning of the year.
— This is a negative, quite strong supply shock for the economy. The strength and durability of this shock depend entirely on external factors and have nothing to do with our internal situation and monetary policy, said Adam Glapiński.
