3685105730

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Mateusz Rolski

www.stat.gov.pl.

Założenia polityki pieniężnej na rok 2012. Warszawa, sierpień 2011. Założenia polityki pieniężnej na rok 2013. Warszawa, wrzesień 2012.

THE MONETARY POLICY OF THE NATIONAL BANK OF POLAND IN 2012-2013 YEARS

Summary: The National Bank of Poland is carrying the monetary policy out according to entitlements conferred by the Polish constitution and other acts. The Monetary Policy Council is a basie organ of The National Bank of Poland which determines the strategy, purposes of the monetary' policy' to the given year and instruments of their realization. The basie tools of National Bank of Poland include open market operations, deposit-credit operations and a reserve requirement. The profitability of instruments of the monetary policy depends on NBP interest rates.

The present article is introducing the monetary policy of the National Bank of Poland in 2012-2013 years, that is the period, in which the Monetary Policy Council re-duced bank bases ratę by the National Bank of Poland to the lowest level in history.

Kcywords: The National Bank of Poland. monetary policy.