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Poland Attacks Inflation With World’s First 2022 Rate Hike

  • Central bank raised reference interest rate by 50 bps to 2.25%
  • Policy makers signal more rates are possible depending on data
Updated on

Poland staged the world’s first interest-rate hike this year and signaled it’s ready to do more, intensifying the battle against inflation that’s poised to hit its highest point this century.

Rate setters lifted the benchmark 50 basis points to 2.25% on Tuesday after sharply raising the 2022 inflation forecast. Fifteen of 17 economists predicted the move in a Bloomberg survey, while the other two expected a 75 basis-point rise.