Poland Before the Euro

Ryszard Kokoszczyński

Journal of Public Policy, 2002, vol. 22, issue 2, 199-215

Abstract: The euro is relevant for decisions that the Polish Central Bank takes about its general rules of monetary policy, goals and decision structures, but it is not, or at least not yet, relevant to the everyday processes of controlling money supply and interest rates. Fighting inflation was a primary target of the central bank prior to applying for entry to the European Union and maintaining a satisfactory external account. However, with the growing openness of the economy, eclectic monetary policy showed a high degree of internal inconsistency. With greater autonomy under a new constitution, the Central Bank adopted direct inflation targeting. The adoption of this measure is consistent with emerging EU policy but was driven by specifically Polish concerns.

Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jnlpup:v:22:y:2002:i:02:p:199-215_00

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