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.

Simonas Krėpšta: Work for central bankers is not done yet
Simonas Krėpšta, Marek PielachIn the Eurozone, we see that interest rates are at 2.5 percent with over 8 percent inflation. These are very high levels. This means that the work of central bankers is not yet complete. However, we are moving in a cautious...

Our banking system is still in good condition
Grzegorz Jeż, Sergiy NikolaychukUkrainians have already started to think about development and how to reconstruct the country after the war – says Sergiy Nikolaychuk, Vice President, National Bank of Ukraine.

We are Guided by Our Mandate
Martin Schlegel, Grzegorz JeżThe price stability is the crucial factor for the Swiss central bank and our mandate is to bring inflation down says Martin Schlegel, Vice Chairman of the Governing Board, Swiss National Bank.

Our monetary strategy has served us well for many years, providing anchor to the overall macroeconomic stability
Grzegorz JeżThe proper diagnostic on the inflationary nature is a key in adequate calibration of the policy response – thinks Anita Angelovska-Bezohska, Governor of the National Bank of the Republic of North Macedonia.

Our policy should care about everyone
Obserwator FinansowyIf we do want to canalize and bring inflation down maybe that means we have to have bigger sacrifice in our output and it is a hard decision – says Xing Guo, Bank of Canada.

Particular countries have different sources of inflation
Obserwator FinansowyIf we let inflation consolidate and entrench at the high level the cost od bringing it down at a later point in time will be huge in terms of unemployment – says Marco J. Lombardi, Bank for International Settlements.

Housing market may stagnate a bit
Obserwator FinansowyHousing markets are affected by general long-term movement of interest rates so discussion about monetary policy shocks may be a little bit tricky in context of housing markets and so preferably we should separate those two...

Moments of trauma can be moments of opportunity
Obserwator FinansowyCurrent tragedy of Europe can be also a positive opportunity for energy transition, we have to think big – says Cornel Ban, Associate Professor in International Political Economy, Department of Organization, Copenhagen...

We have to make ourselves less dependent on one source
Obserwator FinansowyAutarky may not be the road but quite likely what may be the road in the future is that we will have again more storage of gas, oil and other resources – says Robert Holzmann, Governor, Oesterreichische Nationalbank.

We are going into new phase of globalization
Obserwator FinansowyMutual gain for a trading relationship is going to be a more sensible trading relationship where people think more of who they are trading with – says David Marsh, Chairman, Official Monetary and Financial Institutions...