Merrill Lynch's report about Poland

Merrill Lynch predicts the upsurge in the inflation and in the interest rates in Poland. And although the other economists do not believe in such scenario, the prices may grow even two times faster than last year.
Published on Friday Merrill Lynch's prognosis is surprising and pesimistic. The London's division of a famous bank predicts that in August the inflation will amount to 5.8% and till the end of the year will oscillate between 4.5-5%.
In the whole year 2008 it will amount 5% on average and in 2009 - 4.6%. The prognosis concerning the interest rates is also pesimistic. It results from it that even this year the main interest rate NBP (Polish National Bank) will come up to 6.5% and next year -7%.
The economists agree that in Poland costs of credits raise proportionally to the prices. However, their fears do not equal those of Merrill Lynch's analysts.