Sunday, May 18, 2008
Mounting pressures weigh heavy on Poland euro decision
“Too many questions, too few answers,” says central bank governor
Above-target inflation, external volatility and a sharply rising currency are delaying Poland’s decision on when to join the ERM-II pre-euro currency arrangement, the country’s central bank governor has said. “We should [...] get more knowledge of the recent financial turmoil. This does not mean we have to wait and wait, but at this moment there are too many question marks, and few answers,” National Bank of Poland (NBP) governor Slawomir Skrzypek told Emerging Markets. The ERM-II is the requirement to lock the national currency into a narrow exchange-rate band against the euro for at least...
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