Poland’s economy grew at a quicker pace in the first three months than an initial estimate, fueled by growing net exports and recovering consumption.
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.
Poland’s central bank signaled the possibility of an interest-rate cut this year, with Governor Marek Belka saying the inflation rate may fall below zero in “the summer months.”
Economic growth in Poland, the only European Union member to escape a recession last year, slowed in the first three months of the year, held back by a harsh winter and lagging fixed investment.
The zloty strengthened against the euro as Prime Minister Donald Tusk sought a parliamentary vote of confidence after his government was rattled by a scandal.
"Cheaper oil is feeding into consumer prices and will probably keep readings negative through the first quarter."
- Grzegorz Maliszewski on Dec 15, 2014