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.
Doves with hawkish faces
Marek PielachMore than six months ago the expectation was that the new Monetary Policy Council would cut its benchmark interest rate by March — it hasn’t happened yet.
Worse indicator, but relatively good economic situation in Poland
Maria BnińskaIn March, the Leading Index, showing the future trends in the economy, fell by about 1.1 points compared with February. “Since the beginning of 2015, we have observed alternating increases and decreases of the index...
Ukraine wants to accelerate privatisation
Michał KozakAfter last year's failure, the Ukrainian government plans a huge sale of state-owned companies in 2016. But critics worry that rather than helping reform the inefficient and corrupt economy, privatisation will strengthen the...
The NBP Economic Institute: Inflation will take longer to return to target
Marek PielachInflation in Poland should reach 1.5 per cent in the Q3’2017, i.e. the lower band of deviation from the 2.5 per cent inflation target.
The ECB will pay for borrowing money
Paweł KowalewskiThe unconventional monetary policy of the European Central Bank is failing to produce the expected result, i.e. an acceleration of economic growth in the euro area.
Dispute over tax regime in Ukraine divides business and government
Michał KozakTwo years after overthrowing former president Viktor Yanukovich, there is no worse place in Europe for doing business than Ukraine.
The new Polish bank tax’s side effects
Tomasz Mironczuk, Piotr MielusThe Bank of National Economy (Bank Gospodarstwa Krajowego, BGK) is exempted from the tax, but participates in the creation of the WIBOR. This could disrupt the market.
No defenders of the weakening hryvnia
Michał KozakThe Ukrainian hryvnia is once again sliding. Since there are no new macroeconomic reasons for that, it is suspected that the unfavorable hryvnia trends are caused by speculation.
PLN1 trillion to change the economy’s direction
Marek PielachThe plan for Responsible Development provides for Polish drones, passenger ferries, trains and mining machines, but also investments in cyber-security and biotechnology.
Capital flows and growth in Central and Eastern Europe
Jo HarperSome of the fastest growing CEE economies have also seen large fluctuations in GDP growth with adverse consequences on unemployment and migration