Adam Glapiński, NBP: we are afraid that we will have to raise interest rates

The Monetary Policy Council (RPP) in Poland is experiencing a hawkish shift, with potential interest rate hikes on the horizon due to inflation concerns. Recent inflation projections indicate a possible rise in prices, influenced by external supply shocks and the expiration of certain programs. The NBP has accumulated 700 tons of gold, enhancing Poland's position in global reserves, and the central bank is considering further purchases. The economic outlook remains uncertain, with inflation expected to fluctuate between 3.1% and 5.3% next year, depending on various factors including government regulations and global commodity prices.