The Central Bank of Poland became the first central bank in the world to raise interest rates in 2022, while it showed that it is ready to take new action in its effort to control inflation, according to Bloomberg.
In particular, the country’s central bank today raised its key interest rate by 50 basis points to 2.25% after an upward revision of its inflation forecasts this year.
The zloty notes small losses against the euro after the decision at 4.5663 per euro.
This is the fourth rate hike since October as the central bank struggles to cope with the recent rally in inflation. Central Bank Governor Adam Glapinski said last week that inflation would peak above 8% in June, leaving open the possibility of further interest rate hikes if needed.
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Source From: Capital
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