Monetary policy
MPC raises interest rates
for the second time
Poland's Monetary Policy Council has raised interest rates again this summer after inflation rate rose near three-year high. All benchmark rates were raised by a quarter of a percentage point, with the key 14-day rate raised from 5.75 to 6 percent. Economists say central bank-led council will have to hike prime interest rates again as early as next month because of rising inflation, accelerating GNP growth and expectations for wage hikes. Core inflation in June rose to 4 percent from 2.7 percent in the same period last year.
Corporate finances
JC Auto confused about
investment portfolio
JC Auto car parts distributor has lost control over its short-term investment portfolio for several days after buying corporate bonds it didn't want. Warsaw-based firm has decided to buy over 7 million zloty...