Narodowy Bank Polski

Research & Conferences

Conference programme

Thursday, 5 November 2009

10:30 – 11:00
Opening remarks: Zbigniew Hockuba, National Bank of Poland

11:00 – 12:30 Session 1. Publishing Central Bank Forecasts in Practice

Chairman: Ryszard Kokoszczyński, National Bank of Poland
12:30 – 13:30
Lunch break

13:30–15:30 Session 2. On Forecast Accuracy

Chairman: Mateusz Pipień, National Bank of Poland
Session discussants:
  • Wojciech Charemza, University of Leicester
  • Jesus Crespo-Cuaresma, University of Innsbruck
Coffee break

16:00 – 17:30 Session 3. Central Bank Forward Guidance: Impact on Financial Markets

Chairman: Andrzej Sławiński, National Bank of Poland
Gala dinner

Friday, 6 November 2009

10:00 – 12:15 Session 4. Publishing Interest Rate Forecast

Chairman: Aleksander Welfe, University of Lodz & National Bank of Poland

13:15–14:45 Session 5. Forecast and Target Transparency

Chairman: Zbigniew Polański, National Bank of Poland
  • Central Bank Forecast Transparency, Incentives, and Inflation Targets 

  • Presented by Georgios Chortareas: University of Athens
    Co-author: Kalliopi-Maria Zekente
    Discussed by Axel Lindner: Halle Institute for Economic Research

  • Policy Announcements and Welfare (pdf, 309 KB)

  • Presented by Christian A. Stoltenberg: University of Amsterdam
    Co-author: Vadym Lepetyuk
    Discussed by: Michał Rubaszek, National Bank of Poland

Closing remarks: Ryszard Kokoszczyński, National Bank of Poland

Transport to the airport

NBP interest rates

Reference rate 1.50
Lombard rate 2.50
Deposit rate 0.50
Rediscount rate 1.75

Exchange rates

Table of 2020-02-17
1 EUR4.2502
1 USD3.9189
1 CHF3.9921
1 GBP5.1109
100 JPY3.5664

Economic outlook

Monthly data

Quarterly data

Financial markets



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00-919 Warszawa

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