WARSAW, April 21 (Reuters) - The National Bank of Poland
posted a loss of PLN 16.9 billion ($4.03 billion) in 2022 as
rising interest rates caused an increase in the cost of monetary
policy, the central bank said in its financial report.
NBP recored a profit of PLN 10.9 billion in 2021.
The increase in the costs of conducting monetary policy was
mainly due to the rise in the annual reference rate of the
central bank, NBP said.
At the same time, the increase in interest income on foreign
exchange reserve investments, resulting from the rise in foreign
interest rates, decreased, the report said.
According to law, if the central bank makes a profit, 95% of
it is transferred to the state budget.
($1 = 4.1951 zlotys)
(Reporting by Pawel Florkiewicz; Editing by Kim Coghill)
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