macropulse

  • We can forget about deflation

    13.01.2017

    In accordance with the final GUS data, CPI inflation rose to 0.8% YoY in December vs. 0.0% in November, running in line with the flash GUS estimate and above our forecast equal to the market consensus (0.5%). The increase in CPI inflation was due to the low base effect from ...

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  • MPC to accept negative real interest rates

    11.01.2017

    As we expected, the Monetary Policy Council has left interest rates unchanged today (the reference rate amounts to 1.50%). The bias of the Council's statement has not substantially changed compared to the December statement. ...

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