HSBC cuts Poland's GDP growth forecasts to 2.5% in 2012, 2.0% in 2013
2012-10-04 09:13:00
Poland's economic growth in H1 of 2012 was largely in line with expectations, but recent monthly economic data show a stronger than expected slowdown, according to a report by HSBC Bank.
Hence, the bank has made another cut to its 2012 growth forecast - to 2.5% from 2.7%, but reduced 2013 more significantly - to 2.0% from 3.1%.
The Polish government forecasts GDP growth at 2.5% and 2.2%, respectively. According to the analysts, monetary policy has room to respond with easing - they expect a total of 75bp rate cuts to 4.0% in the case of the key reference rate, in the coming months.