Warsaw, Feb 8 (AFP/APP): Poland’s central bank on Tuesday said it raised its main interest rate by 0.5 percentage point to 2.75 percent — its fifth consecutive monthly increase to combat high inflation.
Poland’s annual consumer price inflation hit 8.6 percent in December — its highest level in two decades — according to the national statistics office, up from 7.8 percent in November and 6.8 percent in October.
The National Bank of Poland (NBP) said in a statement it saw “inflation remaining at an elevated level also in 2022”.
The central bank also hinted at more rate rises, saying that monetary policy council decisions “in the coming months will continue to be aimed at reducing inflation to a level consistent with the NBP inflation target in the medium term”.
It blamed the sharp rise in inflation on high energy prices and global supply chain disruptions caused by the pandemic.
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