President of NBP on gold reserves: a historic achievement

Adam Glapiński, the president of NBP, highlighted the significant increase in Poland's gold reserves, which have grown nearly sevenfold during his tenure. He noted that the current value of these reserves is approximately 355.7 billion PLN, with unrealized gains of 140.5 billion PLN. Glapiński expressed no immediate plans to halt gold purchases, emphasizing the importance of maintaining reserves. He also commented on the recent decline in inflation to 3.5%, attributing it to various factors, including energy prices and regulatory changes. The RPP decided to keep interest rates unchanged, with a focus on monitoring inflation risks and potential future actions. Glapiński indicated that the expiration of the CPN program could influence inflation dynamics going forward.