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Rates adjusted (772.3 kB PDF)

Even bigger uncertainty (1204.7 kB PDF)

It’s the security, stupid! (3815.1 kB PDF)

Mood swings (1187.3 kB PDF)

Consumer stayin’ alive, investment should be dancin’ (4281.1 kB PDF)

Foggy clouds over the green island (1065.6 kB PDF)

The return to the green island (4385.5 kB PDF)

Poland - the European champion? (4154.2 kB PDF)

Permanent CPI drop to target still far away (993.4 kB PDF)

The Coming Spring (5555.2 kB PDF)

Too early to panic (761.8 kB PDF)

Outlook 2024: Against the trends (10273.8 kB PDF)

New Hope or Phantom Menace? (1122.7 kB PDF)

Turning points (1283.2 kB PDF)

All hands on deck (8038.2 kB PDF)

It cannot get any worse (7478.7 kB PDF)

Economy gathering strength (1494.5 kB PDF)

No changes to baseline scenario (920.2 kB PDF)

Economy at the crossroads (again) (5943.8 kB PDF)

Second thoughts on disinflation (1248.8 kB PDF)

Slower deceleration (1149.7 kB PDF)

2023 Outlook: Running down that hill (10211.9 kB PDF)

Climbing the inflation plateau (1164.4 kB PDF)

Gasocalypse now (1264.3 kB PDF)

Tug of War (6541.2 kB PDF)

Approaching the top (1289.8 kB PDF)

Groundhog year (1209.1 kB PDF)

War accelerated the cycle (6687.9 kB PDF)

New month – new reality (967.4 kB PDF)

Forecasts with lower shelf life (1187.0 kB PDF)

Outlook still rosy, but clouds gathering (5759.1 kB PDF)

Chasing inflation (1274.5 kB PDF)

Quick update (616.9 kB PDF)

Tides are turning (5531.6 kB PDF)

Inflation is not letting go (729.9 kB PDF)

The growing price of recovery (6136.7 kB PDF)

High five (1203.4 kB PDF)

Better, faster, stronger (1242.4 kB PDF)

Vanishing point (6279.6 kB PDF)

Reflation fever (1254.6 kB PDF)

Frozen (1141.7 kB PDF)

2021 Outlook - Just wait for the spring to come (7977.8 kB PDF)

Bumpy road towards normalisation (1403.3 kB PDF)

Fragile recovery (6561.0 kB PDF)

Time for upgrade (1225.3 kB PDF)

The rising wave (7149.6 kB PDF)

The trough proved deeper than expected (1403.5 kB PDF)

In search for a bottom (1380.2 kB PDF)

Coronavirus crisis: v-, V- or U-shaped GDP scenario? (2817.1 kB PDF)

CPI beats GDP (606.5 kB PDF)

Virused growth (1174.7 kB PDF)

2020 Outlook: Gear down to three (2220.5 kB PDF)

Let’s wait and see (740.3 kB PDF)

Multidimensional puzzle (3272.5 kB PDF)

Uncertainty higher again (890.3 kB PDF)

Overexcitement about central banks (1043.7 kB PDF)

Take it easy (3726.3 kB PDF)

Warm, but the sky is clouded (682.2 kB PDF)

Spring (of inflation) is in the air (1237.9 kB PDF)

Against the rules (3133.3 kB PDF)

It is getting interesting (1209.7 kB PDF)

2019 outlook: Turning points (still) ahead (1784.5 kB PDF)

Clouded, the future is (1186.2 kB PDF)

Sum of All Fears (999.8 kB PDF)

Economic equinox (823.0 kB PDF)

Trade Wars: The customs menace (925.5 kB PDF)

Stockpiles of economic growth (913.6 kB PDF)

Salutary consumption (950.0 kB PDF)

Nominal descent (1016.9 kB PDF)

Rosy picture (with a scratch) (948.8 kB PDF)

Fifth gear still on (937.3 kB PDF)

A Rising Tide Lifts our Boat (919.9 kB PDF)

2018 Outlook: Poland (1888.7 kB PDF)

Looking Through Rose-Coloured Glasses (870.1 kB PDF)

As Good As It Gets (1572.5 kB PDF)

Mid-Year Economic Outlook (1229.9 kB PDF)

Back to the past? (950.5 kB PDF)

Changing up the gear (956.9 kB PDF)

Don’t get too excited (930.0 kB PDF)

So far, so good (976.4 kB PDF)

The year starts in optimistic moods (918.7 kB PDF)

2017 Outlook: Poland (1637.8 kB PDF)

Correction or beginning of a trend? (861.6 kB PDF)

Time for adjustments (893.0 kB PDF)

Faith (in easing) no more? (870.2 kB PDF)

Even more uncertainty ahead (976.3 kB PDF)

Risks predominate (905.0 kB PDF)

Warning signals (897.4 kB PDF)

Rate cuts now look unlikely unless the economy slows (1063.6 kB PDF)

There is still ammo, but no will to pull the trigger (1115.2 kB PDF)

Will Poland's MPC join the easing party? (947.8 kB PDF)

Where Are We Now? (914.3 kB PDF)

MACROscope - 2016 Outlook: Poland (1742.6 kB PDF)

Give PiS a chance (1182.0 kB PDF)

A longer period of uncertainty? (960.8 kB PDF)

Counting down the days (1142.6 kB PDF)

Never ending story (1133.1 kB PDF)

Key themes remain the same (1137.9 kB PDF)

Political question marks on the horizon (967.6 kB PDF)

Poland's 4x4 Economy: Treading Safely Over Difficult Terrain (1865.2 kB PDF)

The Tide Is Turning (1113.4 kB PDF)

Take it easy (2022.6 kB PDF)

Economy growing, prices falling (1709.0 kB PDF)

MACROscope - Outlook 2015 (1208.9 kB PDF)

(De)concentration of monetary policy (1860.1 kB PDF)

Slower growth dampens spirits (766.9 kB PDF)

Ch-ch-ch-ch-changes (1009.9 kB PDF)

Naturally neutral (1002.0 kB PDF)

Rate cuts look neither necessary nor likely (1690.2 kB PDF)

ECB waits until June, MPC until July (1817.5 kB PDF)

Spring-time optimism (1862.4 kB PDF)

MACROscope (1862.4 kB PDF)

Rise of uncertainty in the East (1800.6 kB PDF)

MACROscope (1800.6 kB PDF)

2012+2013=2014? (1638.1 kB PDF)

MACROscope (1638.1 kB PDF)

Strong turn of the year (1772.7 kB PDF)

MACROscope (1772.7 kB PDF)

Another breath of optimism (1567.5 kB PDF)

MACROscope (1115.0 kB PDF)

Let the good times roll! (1465.1 kB PDF)

MACROscope (1465.1 kB PDF)

Politics in the spotlight (1437.5 kB PDF)

MACROscope (1437.5 kB PDF)

(Almost) everything is clear (1427.9 kB PDF)

MACROscope (1427.9 kB PDF)

Hot summer ahead? (1470.4 kB PDF)

Stormy markets (1338.8 kB PDF)

Is that just a correction? (1420.4 kB PDF)

Strong ending (1378.2 kB PDF)

Still easing (1374.2 kB PDF)

Weak start of the year (1416.3 kB PDF)

2013 – Close to the edge (1743.6 kB PDF)

Better late than later (1587.0 kB PDF)

All is not lost… (1747.4 kB PDF)

ECB on the go, MPC very slow (1723.3 kB PDF)

Another hot summer (1367.4 kB PDF)

BZ WBK MACROscope - No end in sight (1359.0 kB PDF)

MACROscope (487.7 kB PDF)

MACROscope (442.7 kB PDF)

MACROscope (692.9 kB PDF)

MACROscope (503.6 kB PDF)

MACROscope (570.1 kB PDF)

MACROscope (584.8 kB PDF)

MACROscope (619.9 kB PDF)

MACROscope (459.4 kB PDF)

MACROscope (489.6 kB PDF)

MACROscope (560.7 kB PDF)

MACROscope (710.6 kB PDF)

MACROscope (531.2 kB PDF)

MACROscope (490.8 kB PDF)

MACROscope (549.9 kB PDF)

MACROscope (674.5 kB PDF)

MACROscope (523.0 kB PDF)

MACROscope (469.5 kB PDF)

MACROscope (537.0 kB PDF)

MACROscope (620.4 kB PDF)

MACROscope (509.9 kB PDF)

MACROscope (451.7 kB PDF)

MACROscope (531.9 kB PDF)

MACROscope (479.0 kB PDF)

MACROscope (457.4 kB PDF)

MACROscope (682.3 kB PDF)

MACROscope (561.8 kB PDF)

MACROscope (513.1 kB PDF)

MACROscope (454.2 kB PDF)

MACROscope (600.4 kB PDF)

MACROscope (475.8 kB PDF)

MACROscope (616.1 kB PDF)

MACROscope (469.4 kB PDF)

MACROscope (475.4 kB PDF)

MACROscope (467.2 kB PDF)

MACROscope (467.0 kB PDF)

MACROscope (599.4 kB PDF)

MACROscope (443.2 kB PDF)

MACROscope (432.9 kB PDF)

MACROscope (508.2 kB PDF)

MACROscope (474.8 kB PDF)

MACROscope (438.1 kB PDF)

MACROscope (479.6 kB PDF)

MACROscope (474.2 kB PDF)

MACROscope (431.7 kB PDF)

MACROscope (465.1 kB PDF)

MACROscope (518.8 kB PDF)

MACROscope (517.3 kB PDF)

MACROscope (453.9 kB PDF)

MACROscope (451.5 kB PDF)

MACROscope (476.9 kB PDF)

MACROscope (452.8 kB PDF)

MACROscope (490.5 kB PDF)

MACROscope (464.5 kB PDF)

MACROscope (484.6 kB PDF)

MACROscope (521.9 kB PDF)

MACROscope (419.4 kB PDF)

MACROscope (449.7 kB PDF)

MACROscope (504.7 kB PDF)

MACROscope (483.1 kB PDF)

MACROscope (580.2 kB PDF)

MACROscope (630.2 kB PDF)

MACROscope (472.8 kB PDF)

MACROscope (512.3 kB PDF)

MACROscope (490.1 kB PDF)

MACROscope (448.2 kB PDF)

MACROscope (543.4 kB PDF)

MACROscope (544.4 kB PDF)

MACROscope (426.7 kB PDF)

MACROscope (501.3 kB PDF)

MACROscope (493.1 kB PDF)

MACROscope (526.6 kB PDF)

MACROscope (480.4 kB PDF)

MACROscope (486.7 kB PDF)

MACROscope (571.4 kB PDF)

MACROscope (435.1 kB PDF)

MACROscope (492.6 kB PDF)

MACROscope (477.6 kB PDF)

MACROscope (483.4 kB PDF)

MACROscope (440.4 kB PDF)

MACROscope (566.7 kB PDF)

MACROscope (495.5 kB PDF)

MACROscope (499.3 kB PDF)

MACROscope (582.3 kB PDF)

MACROscope (465.5 kB PDF)

MACROscope (584.8 kB PDF)

MACROscope (675.6 kB PDF)

MACROscope (505.8 kB PDF)

MACROscope (555.3 kB PDF)

MACROscope (538.4 kB PDF)

MACROscope (499.3 kB PDF)

MACROscope (523.4 kB PDF)

MACROscope (573.2 kB PDF)

MACROscope (546.1 kB PDF)

MACROscope (579.2 kB PDF)

MACROscope (573.8 kB PDF)

MACROscope (584.5 kB PDF)

MACROscope (529.0 kB PDF)

MACROscope (556.8 kB PDF)

MACROscope (1381.1 kB PDF)

MACROscope (1072.6 kB PDF)

MACROscope (1302.3 kB PDF)

MACROscope (842.5 kB PDF)

MACROscope (1151.1 kB PDF)

MACROscope (1001.4 kB PDF)

MACROscope (728.0 kB PDF)

MACROscope (433.4 kB PDF)

MACROscope (294.7 kB PDF)

MACROscope (276.5 kB PDF)

MACROscope (279.1 kB PDF)

MACROscope (275.6 kB PDF)

MACROscope (280.8 kB PDF)

MACROscope (270.7 kB PDF)

MACROscope (274.8 kB PDF)

MACROscope (291.4 kB PDF)

MACROscope (308.0 kB PDF)

MACROscope (323.5 kB PDF)

MACROscope (305.8 kB PDF)

MACROscope (706.7 kB PDF)

MACROscope (670.6 kB PDF)

MACROscope (637.2 kB PDF)

MACROscope (696.5 kB PDF)

MACROscope (315.4 kB PDF)

MACROscope (478.1 kB PDF)

MACROscope (285.3 kB PDF)

MACROscope (268.3 kB PDF)

MACROscope (277.5 kB PDF)

MACROscope (270.5 kB PDF)

MACROscope (731.1 kB PDF)

MACROscope (220.5 kB PDF)

MACROscope (220.4 kB PDF)

MACROscope (203.8 kB PDF)

MACROscope (189.2 kB PDF)

MACROscope (181.2 kB PDF)

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