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The cycle turns: Emerging central banks hike rates in March


2 Min Read
FILE PHOTO: The central bank headquarters building is seen in Brasilia, Brazil May 16, 2017. REUTERS/Ueslei Marcelino/File Photo
LONDON (Reuters) - Emerging market central banks delivered five net interest rate hikes in March, marking the end of an easing cycle which started in 2019 as central banks in the developing world grapple with rising inflation pressures.
Across a group of 37 central banks in developing economies, policy makers in Ukraine, Georgia, Brazil, Turkey and Russia raised interest rates, many delivering bigger hikes than expected. This follows a total of two net interest rate cuts in February.
For an interactive version of the graphic, click here here. ....

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President of Poland's central bank plans to run for second term – The First News


Business
March 15, 2021
Asked if interest rates might change, Glapinski said that this probability was currently close to nil, but assured that the central bank was ready to react in case of inflation or deflation risks.
Leszek Szymański/PAP
Adam Glapinski, the president of the National Bank of Poland told the “Sieci” weekly that he will be seeking re-election to the post.
In an interview published on Monday, he also stated that NBP intends to increase Poland s 229-tonne gold reserves by another 100 tonnes in the coming years.
Asked if interest rates might change, Glapinski said that this probability was currently close to nil, but assured that the central bank was ready to react in case of inflation or deflation risks. ....

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UPDATE 1-Poland's central bank wants to buy 100 tonnes of gold, governor says


By Reuters Staff
(Adds context)
WARSAW, March 15 (Reuters) - Poland’s central bank wants to buy at least 100 tonnes of gold worth some $5.5 billion at current prices over the coming years, as it continues to expand its bullion reserves, governor Adam Glapinski said in an interview published on Monday.
“At the moment, we have 229 tonnes of gold, of which more or less half was bought during my term in office,” Glapinski told conservative magazine Sieci.
“Over the course of a few years we want to buy at least another 100 tonnes of gold and keep it in Poland as well,” he said. ....

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Poland's central bank should consider raising main rate to 0.5%, central banker says


By Reuters Staff
2 Min Read
WARSAW, Feb 18 (Reuters) - Poland’s central bank should consider raising its main interest rate to 0.5% in the second half 2021 because of rising inflation, rate-setter Eugeniusz Gatnar said.
Poland’s benchmark rate has been at a record low 0.1% since rate-setters cut it three times by a cumulative 140 basis points during the first wave of the COVID-19 pandemic in the spring of 2020.
“. If the number of infections does not increase as a result of the current easing of the restrictions and inflation continues to rise, then we should consider raising rates to 0.5% in the second half of the year,” Gatnar wrote in response to questions from Reuters. ....

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