Polish Central Bank trims growth, inflation outlook
2013-03-11 14:59:36
Poland's central bank on Monday trimmed its economic growth and inflation projections for 2013.
In its latest Inflation Report, the bank said the considerable monetary policy easing in recent months will allow inflation to run close to target in the medium term and at the same time supports recovery of the Polish economy.
The bank downgraded its growth forecast for 2013 to 0.6-2 percent from 0.5-2.5 percent estimated in November. The economy is expected to grow between 1.4 percent and 3.7 percent in 2014.
It also lowered inflation forecast for this year to a range of 1.3 percent to 1.9 percent from the prior projection of 1.8 percent to 3.1 percent. It will then ease to 0.8-2.4 percent next year, it said.
The bank said recent data confirm persistently low economic growth in Poland, no wage pressure and low inflationary pressure. Economic activity may gradually improve in the coming quarters, it said.
Nonetheless, GDP growth will probably remain moderate, which will continue to contain inflationary pressure.