Poland's Central Bank to Persist with Gold Purchases

Deep News
04/10

The central bank of Poland kept its interest rate unchanged at 3.75% on Thursday. The Monetary Policy Council stated that future decisions will be based on the latest information regarding Poland's inflation outlook and economic activity. These prospects are currently influenced by changes in the global macroeconomic environment, including shifts in global commodity prices and inflation, as well as the geopolitical situation. During a press conference, the central bank governor noted that fiscal policies and regulations concerning fuel prices remain a risk to the Consumer Price Index (CPI), and the central bank may intervene again in the foreign exchange market. Regarding gold reserves, Governor Adam Glapiński stated that the central bank will continue buying gold. Poland currently holds 580 tons of gold, and the bank reaffirmed its goal to increase gold reserves to 700 tons.

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