National Bank of Poland
Tasks of the Monetary Policy Council 43. Functions of Central Polish Bank 54. Monetary policy of Polish Central Bank and its realization. 6Figure 1. Twelve-month inflation (CPI) and trended CPI, 1998-2002. 7Table 1. Basic interest rates of NBP. 8Table 2. Emission of money bills by NBP 10Figure 2. Average monthly balance of temporarily liquidity -absorbing operations. 11Figure 3. Sale of converted bonds in 2003. 12Table 3. Changes in the volume of mandatory reserves in 2003(in PLN million) 135. The possible influence of Maastricht criteria on the monetary policy on Polish National Bank-especially towards inflation condition. 14Figure 4. Inflation in Poland and the Maastricht criteria 15This paper handles over the National Bank of Poland . After a short enterance in point one, ze present the directing bodies of the NBP in point two. Hereby we short mention the presidentship of the NBP, the monetary policy council and the man
The National Bank of Poland is responsible for the stability and safety of the entire banking system. This strategy relies on the decreasing of the inflation measured by medium-year index of items' price increase and consumption service below 4%. Their yield was determined at a level not lower than the NBP reference rate. Under the adopted strategy, starting from January 2004 a continuous inflation target of 2. In 2003, the sale of converted treasury bonds from the NBP's portfolio was completed. Until joining ERM II, the strategy of direct inflation targeting will take place in a floating exchange rate environment. Another tasks of the NBP Management Board shall include, in particular:̃ adopting resolutions on the licensing of banks to conduct foreign exchange operations,̃ performing responsibilities with respect to exchange rate policies,̃ performing periodic assessments of the circulation of currency and monetary settlements, and also of foreign exchange operations,̃ supervising open market operations,̃ assessing the operation of the banking system,̃ adopting the NBP plan of activity and budget,̃ determining the kinds of banking fee and commission to be charged by the NBP and̃ specifying the rates applicable,̃ pacifying the principles applicable in NBP funds management,̃ establishing the organizational structure and division of responsibilities within the NBP,̃ establishing NBP personnel and staff compensation policies,̃ adopting the annual report on the activity of the NBP,̃ drawing up the balance sheet and profit and loss account of the NBP,̃ drawing up accounts of the national balance of payments,̃ preparing and examining draft resolutions and other materials to be submitted to the Council. Beginning 1 May 2004 the required reserve funds carry interest of 0,9% of the rediscount rate. The exemption from the obligation to hold reserves expired during the year for two banks.
Common topics in this essay:
Policy Council,
Source NBP,
Bank Poland,
Poland Maastricht,
NBP Adjustment,
Management Board,
Polish Republic,
ERM II,
Central Bank,
President NBP,
central bank,
monetary policy,
national bank,
national bank poland,
bank poland,
monetary policy council,
policy council,
president nbp,
inflation rate,
inflation target,
market operations,
maastricht criteria,
nbp management board,
securities central bank,
bank central bank,
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Acceptance Essays
