In 2021 the inflation rate in Poland has grown rapidly, faster than in other EU Member States.
In July the CPI reached 5% and the increase in the prices of building materials and real estate was even higher. The depreciation of the purchasing power of money is also creating upward pressure on wages and poses the risk of creating an inflationary spiral. In similar circumstances the central banks of the Czech Republic and Hungary changed their monetary policy and raised their respective interest rates. The European Central Bank also announced a new monetary policy strategy.
- What should be done to increase the credibility of the zloty?
- Whether and what kind of change in monetary policy would be desirable at the moment?
- What steps should be undertaken to strengthen the credibility of the Polish zloty?
- Is a change in monetary policy needed? And if so, what kind of change should it be?