Polish central bank raises interest rate as prices surge

WARSAW, Poland (AP) — Poland’s central bank has made its second interest rate hike in as many months as consumer prices surge. The National Bank of Poland raised the rate Wednesday to 1.25%. The move indicates that it intends to move more forcefully against rising prices after facing criticism for not acting sooner. It comes after the European Union’s statistics agency said Friday that Poland’s yearly inflation rate registered at 6.8% in October. That’s among the highest in the 27-member European Union. Inflation has been spiking worldwide in recent months because of soaring energy prices and pent-up demand during the pandemic recovery.