The authors of this paper generalize the concept of the natural rate of interest (Laubach and Williams, 2003; Woodford, 2003) by defining and estimating the the natural yield curve (NYC) – the term structure of natural interest rates. Their motivation stems i.a. from the observation that at times when central banks attempt to directly affect [...]
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Posted on March 8th, 2012
Posted on February 1st, 2011
In the fourth quarter of 2010, the standards of granting loans to households were further tightened. In net terms, the standards of granting loans to enterprises were slightly eased, except for long-term loans to small and medium-sized enterprises (slight tightening). The banks continued to ease crediting terms related to cost of servicing loans [...] Posted on August 12th, 2010
In the third quarter in succession, the gradual easing of some elements of lending policy in the segment of corporate and housing loans is accompanied by tightening of standards of granting consumer loans. In the second quarter of 2010, the banks lowered spreads on corporate and housing loans, slightly revising lending standards. [...] Posted on August 9th, 2010
The National Bank of Poland publishes the “Financial Stability Report” twice a year. The July edition is based on data available up to 18 June 2010 and presents the latest assessment of risks to the stability of the Polish financial system. The rate of economic growth, which was slower than in the [...] Posted on July 7th, 2010
The Inflation Report presents the Monetary Policy Council’s assessment of the current and future macroeconomic developments influencing inflation. The projection of inflation and GDP presented in Chapter 4 was prepared at the Economic Institute of the National Bank of Poland. The projection was prepared with the use of the NECMOD macroeconomic model. Contentrelated [...] 2 pages
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