Central Bank of Poland, whose economy was the only one that did not sink into recession among EU countries, will become the first Central Bank increased interest rates in emerging Europe.

This is stated in the report of Goldman Sachs Group Inc.
  

“If somewhere in the region will be raised interest rates, that is, above all, will happen in Poland. With the growth of economic performance for several quarters, they simply have to raise interest rates”, - said in an interview with Bloomberg analyst at Goldman Sachs Rory MacFarquhar.

Poland, where production nearly reached its maximum, monetary policy is tightened, before it makes its neighbor, the Czech Republic. Business latter is largely export-oriented, and the authorities will try to avoid increasing the crown, which, in turn, threatens the restoration of the local economy.
  

According to MacFarquhar, the economy of the region remains paralyzed because of structural problems. In this case Poland and the Czech Republic are the “most reliable” among the 10 countries of Eastern Europe that joined the EU in 2004. Both the economy suffered from the downturn in world trade, but entered the crisis with a solid financial system, which prevented the collapse of their economy. ”
 

In turn, the Czech Central Bank may raise interest rates later this year, following the ECB clarified MacFarquhar. Goldman analysts expect the European Central Bank will increase rates in the IV quarter of 2010.
 

As for Russia, experts from a U.S. bank forecast that the CBR will continue to lower rates this year. The refinancing rate in Russia, according to their expectations, will be reduced from the current 8.75% to 7%. At the same time, different perspectives of the economies of Eastern Europe will further increase the differences between them. For example, Poland and the Czech Republic will have greater freedom of action to resolve the incentive measures, while Russia and other countries in this regard will lag.

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