Articles in 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.
Gold is back in favor
Gold has once again become a safe haven for investors. However, a return to the gold standard is a scenario that is unlikely to materialize – says Krishan Gopaul, Market Intelligence Analyst at the World Gold Council...
The mandates of central banks
One of the fundamental issues related to the activity of central banks is the wording and the meaning of their mandates. A thorough examination of these mandates is important and should enable us to assess the validity of...
Despite the crisis central banks must remain independent
In October 2020, central bankers from the Western Balkans discussed monetary policies and financial stability in the COVID-19 era, as well as the financial sector's response to the corona crisis during their meeting in...
Germany still divided
After 30 years since the German reunification, the five former east German states still lag behind their western neighbors in terms of GDP per capita and in several other economic indicators. The hopes are that the...
The effectiveness of anti-crisis measures depends on trust
The outbreak of the pandemic has led to the introduction of unprecedented anti-crisis fiscal and monetary policy measures aimed at supporting economic activity and the stability of the world financial system. Their...
Turbulent times call for unconventional monetary policy
A lot is being said and written about the central banks’ reactions to the crisis caused by the coronavirus pandemic. However, much less attention is paid to whether and how the crisis affected the central banks themselves.
How much is the central bank’s guarantee worth?
During 2019, there was a significant change in the monetary policy of central banks in the United States and the Eurozone. As monetary policy strongly influences economic developments, this has caused a significant change in...
Ukrainian economic migrants caught in the COVID-19 trap
According to official data, during the first month of the pandemic approximately 400K economic migrants returned to Ukraine. The biggest group of Ukrainian migrant workers, reaching 180K, came back from Poland.
Malta’s opaque financial system
In the OECD report on countries’ compliance with international tax standards Malta was downgraded from “largely compliant” to “partially compliant”, making the island country the least cooperative EU member state...
Belarus loses access to multinational funding
The political turmoil in Belarus has closed the government’s access to loans from western multinational lenders, and made new borrowing on the international debt market extremely expensive. Moreover, from now onwards,...