- Author
- Janc Alfred (Poznań University of Economics, Poland), Murinde Victor (University of Birmingham, United Kingdom), Sury-Walterowicz Monika (Poznań University of Economics, Poland)
- Title
- Interest Rate Changes in the Monetary Policy Stance of the Central Bank of Poland and the Impact on Commercial Banks' Activities
- Source
- Raporty. Opracowania. Referaty / Akademia Ekonomiczna w Poznaniu, 1999, nr 10, s. 240-259, tab., bibliogr. 7 poz.
- Issue title
- Proceedings of the Ace/Phare Conference on Building Financial Institutions in Transition Economies, Poznań, Poland 14-15 May, 1999
- Keyword
- Gospodarka rynkowa, Banki komercyjne, Banki centralne, Stopa procentowa, Polityka pieniężna
Market economy, Commercial banks, Central banks, Interest rate, Monetary policy - Note
- summ.
- Abstract
- Interest rate changes are an integral component of monetary policy stance in most market economies, especially because these changes influence the intensity of the intermediation activitiy by commercial banks through their impact on the saving and borrowing decisions of firms and households. This paper shows that in Poland, the Central Bank of Poland (NBP) has been using interest rate changes to implement its monetary policy stance since the beginning of the 1990s. It is found that during 1992- 1998 when the NBP interest rates were falling, the share of loans and deposits in the total assets held by households and commercial banks rose, while the share held by corporations fluctuated and finally decreased. The evidence also shows strong positive correlation between the NBP interest rates and commercial banks' loan and deposit rates as well as between deposit rates and volume of loans in the commercial banking sector.(original abstract)
- Accessibility
- The Library of Warsaw School of Economics
The Main Library of Poznań University of Economics and Business - Bibliography
-
- Biuletyn Informacyjny NBP. 1992-1998.
- Chrabonszczewska E. (1994), Interest rate policy: new financial instruments on the Polish money and capital markets. Warsaw: Warsaw School of Economics.
- Informacja wstępna NBP, 1997 nr 4,11 ; 1998 nr 1, 1999 nr 1.
- Janc A. (1997), Monetary Policy Objectives in its Regulatory Environment in Poland in 1995-97, EMERGO, Journal of Transforming Economies and Societies, Vol. 4 No. 4, Autumn.
- Polański Z. (1997), Polityka pieniężna, in: System finansowy w Polsce: lata dziewięćdziesiąte Warszawa: Wydawnictwo Naukowe PWN.
- Raport o stanie pieniądza w latach 1990-1994 (1995), Warszawa.
- Ustawa o Narodowym Banku Polskim z dnia 29 sierpnia 1997 roku.
- Cited by
- ISSN
- 1429-8848
- Language
- eng
