Polish retail sales grew less than economists estimated in March as unemployment at a six-year high damped consumer spending, adding to arguments for more interest- rate cuts.
Polish inflation slowed to its weakest pace in more than six years in March, adding to pressure on policy makers to resume cutting interest rates.
Polish inflation probably slowed to its weakest pace in more than six years in March, adding to pressure on policy makers to resume cutting interest rates.
Poland’s economy slowed less than economists forecast in the fourth quarter as exports helped offset weakening consumer spending, taming arguments for more interest-rate cuts.
Poland’s borrowing costs will probably fall in today’s two-year bond auction as demand remains “high” for the sale of the least amount of the debt since May, according to PKO Bank Polski SA and Bank Millennium SA.
The zloty weakened after a report that Zyta Gilowska, a Polish central banker who backed monetary tightening at least twice in 2012, was in hospital.
The zloty rallied after Polish industrial output unexpectedly expanded in January, paring expectations for further interest-rate cuts.
The zloty is heading for a six-week high on speculation that Poland’s policy makers will end a series of interest rate cuts at tomorrow’s meeting.
The zloty weakened after a report showed the euro-area economy, Poland’s biggest export market, shrank the most since 2009.
The zloty slid the the weakest level since September after a report showed Polish retail sales dropped the most since 2005 in December.
"While the reading is low, it's mainly due to food prices increasing much less than last year."
- Grzegorz Maliszewski on Apr 15, 2013