Wednesday, 25 March 2009

Next cut / Winter’s back!

This time the overwhelming majority was right (and I was, quite unsurprisingly – wrong) – The MPC cut the interest rates for the third time this year, according to the prediction – by 25 base points. These were probably strengthening zloty, mid-term inflation projections and slump in consumer confidence accompanied by a fall in retail sales that tipped the balance in favour of the doves. I’m wondering now if the forecast of BNP Paribas Bank on zloty (5,40 PLN/EUR in third quarter of 2009) is correct – perhaps it’s only the next spur on the speculation on our currency.

It seems that the winter keeps us in its grip and is unwilling to give way to the long awaited spring. Today the honour of being snow-capped fell to Warsaw – 10 centimetres of wet, heavy snow swathed and probably paralysed the city.
Mateusz (if you finally popped in) – lucky you, you knew when to leave for Greifswald to wriggle out of clearing up the yard - see below the one in front of my house today just at the crack of dawn (6 a.m.).

A tractor with a plough traditionally pushed the chunks of snow sideways, so I had to remove these blocks of snow mixed with the mud – it’s typical for Polish mentality – the road was made passable but the drives in front of the gates were obstructed by after-snow mud cleared off the road…
Hopefully the meteorologists are right and the winter recedes the coming weekend, although I’ve heard that the scenario that winter stays with us until Easter is still conceivable (but who’d believe Andrzejek Zalewski from Ekoradio).

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