The accommodative monetary policy of major central banks has resulted in strong capital inflows into emerging economies. We investigate the extreme dependence – effectively, contagion – between long-term interest rates in core markets and those of Poland in recent years. The issue is...

The paper describes the phenomenon provoked by fast decline in the price rise pace in Poland over the years 2001–2002. A rapid disinflation acts similarly to devaluation of the domestic currency, which means improvement in the export conditions and, as a result, should lead to acceleration of...

The article contains a critical discussion of the presently applied rate of exchange policy consisting of the complete lack of control over the rate of exchange of the zloty. Its effect is either the weakening of the export ability of the Polish economy or the arousing of inflation leading to...

The article concerns the aspects of decisions and their effects connected with the activities of the monetary Policy Council of the National Bank of Poland. The author proves that since the institutional task of the National Bank of Po-land is responsibility for the value of the Polish money,...