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.
The end of the era of cheap public borrowing
Charles WyploszFor well over a decade, governments in the developed countries have been borrowing at very low interest rates, sometimes even at negative rates. This is going to end, and probably for a long while.
We are able to contain inflation
Obserwator FinansowyI think that we are able to contain inflation by hiking interest rates. There is always very kind of… for a small open economy like Iceland, and Poland is to some extent too, also an open economy. The currency market...
Globalisation constantly evolves
Obserwator FinansowyWell, there is such a saying – the only constant thing in this world is change. And that’s how I also see this very broad question on globalisation. Even if nothing happened, even if we had no pandemic war against...
Boris Vujčić: We have to bring down inflation because this is good for growth
Obserwator FinansowyMaybe we have now got used to extremely low interest rates, but we have to keep in mind that these are not normal interest rates that we had in the past – says Boris Vujčić, the Governor of the Croatian National Bank. I...
Will Sanctions Against Russia Reshape Global Refinance?
Eswar PrasadIn response to Russia’s invasion of Ukraine, the U.S. and other Western economies deployed a set of powerful financial weapons against Russia with remarkable speed.
The Economic and Monetary Union and 20 years of the euro
Mário CentenoTwenty years ago, the central banks of the euro area promoted the biggest currency changeover in history, reflecting a paramount decision towards greater economic integration of 12 democracies.
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....
Sustainability & climate change – a more delicate balancing act
Constantin Mugur IsărescuThe economy and financial system worldwide saw major transformations in the past decades, boosted by globalization and digitalization or reshaped by key inflexion points such as the 2008 financial crisis, the COVID-19...
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...
We must react cautiously and flexibly to rising inflation
Obserwator Finansowy“Our measures are an attempt to limit secondary effects, so that – when the negative supply shocks disappear – inflation will also decline rapidly,” says Mārtiņš Kazāks, Governor of Latvijas Banka and member of...