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JP Morgan: GDP to decelerate below 2.5% in 2012-2013


JP Morgan has cut its forecast of economic growth in Poland this year and next, citing a worse outlook for capital investment and consumption. The US investment bank now expects the Polish economy to expand by 2.4% in 2012, rather than the previously forecast 2.8%, and by 2.1% in 2013, instead of 2.6%.

JP Morgan also reckons that the scale of the anticipated monetary loosening will be bigger than previously thought, by a combined 75 basis points until mid-2013. A first rate cut is likely in October or November, according to the bank.

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