English
Obserwator Finansowy features views and analysis of economy in Poland and other countries, written by some of the best journalists, economists and analysts. Our mission is to share knowledge of economics and financial markets in the world.
Obserwator Finansowy is a project under aegis of the Poland’s central bank, Narodowy Bank Polski. We have published thousands of articles about the Polish and global economy. Our journalists have conducted hundreds of interviews with Nobel laureates, distinguished economists, business leaders and politicians with views across the political spectrum.
In this section you can find selected articles in English.
Every time monetary policy has some lag structure
Obserwator FinansowyIn fact, it’s only the central banks that can fight inflation in a proper manner and there is a lot of discussion going on all over the world and especially in Europe on how governments could address inflation....
Globalisation has not had the last word
Obserwator Finansowy“Other factors will be decisive in international trade, not just cost minimisation. We will consider who produces and what, as well as in what conditions. I hope that this will bring similar countries closer to each...
Is a national currency necessary?
William A. AllenHaving a national currency can make it easier to pursue national economic objectives. It can also be useful in dealing with emergencies, and it protects citizens from possible problems in being forced to use foreign...
Long-term impacts of COVID-19 vs. financial system stability
Jacek OsińskiSome economic consequences of the COVID-19 pandemic may also be experienced long after it has ended. What long-term effects of COVID-19 could pose risks to the stability of the financial system in the future?
Between Tel-Aviv and Jerusalem, with shekels in your wallet
Paweł KowalewskiMost often we get to hear about the dollar, the euro or the Swiss franc. The pound will get a mention now and then, and sometimes the yen. The press often reports on emerging currencies, such as the Turkish lira, the Russian...
Experiences with conversion of loans denominated in Swiss francs
Paweł GąsiorowskiIs it necessary for central banks to support conversion of Swiss franc-denominated loans? Hungary, Croatia, and Romania all have different experiences in this regard. The outcomes observed in these countries show that...
Interview with Stefan Ingves, Governor of Sveriges Riksbank
Piotr SzpunarPiotr Szpunar, Director of the Economic Analysis Department at NBP, interviews Stefan Ingves, the Governor of Sveriges Riksbank, for the NBP Obserwator Finansowy:
Ukraine: living on borrowed money
Michał KozakNext year Ukraine will have to incur a huge debt in order to make ends meet. However, there are fewer and fewer creditors willing to provide it with the necessary financing. In the draft budget for 2021 the Ukrainian...
The market is ruled by narratives
Maciej JaszczukThe markets are efficient over the long term, and because of that the stock market can serve as a barometer of the situation in the economy – provided that it accurately reflects its structure. However, sometimes the...
Russian central bank after (some) dirty money
Filip BrokešBank of Russia, the country’s central bank and key financial regulator, wants to change Russia’s anti-money laundering laws in order to have more decision-making power over which companies can be deemed risky from a...