WARSAW (Reuters) -Poland’s central bank raised its main interest rate by 50 basis points to 2.25% on Tuesday, it said, the fourth hike in as many months as the country grapples with its highest inflation in over two decades.
Like other central and eastern European countries, Poland has seen labour shortages and fast-growing wages combine with global factors like supply-chain disruption and rising energy costs push a surge in CPI.
National Bank of Poland Governor Adam Glapinski, who has faced criticism from some economists for being too slow to react, was quoted as saying in December that inflation in 2022 would be higher than previously thought, averaging 7.6%.
Analysts polled by Reuters had forecast that the main rate would rise to 2.25%.
(Reporting by Alan Charlish, Anna Koper, Pawel Florkiewicz and Anna Wlodarczak-Semczuk; Editing by Frank Jack Daniel)
