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Citi Handlowy reduces growth forecast for Poland


Citi Handlowy has lowered its near-term forecasts of economic growth in Poland, amid gloomier prospects for the European economy and record strength of the Swiss franc. The US bank expects GDP growth in Poland to be 3.8% in 2011, rather than the 4.2% it forecast earlier this year; and to slow further to 2.9% in 2012, compared with an earlier projection of 3.8%. Under these circumstances, the Monetary Policy Council (RPP) is likely to keep interest rates steady throughout the remainder of 2011 and for much of 2012 (at least), according to the US bank.

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