The National Bank of Poland has put up a fresh banner on the building. It's all in the eye

Recently, a fresh banner was hung on the facade of the building of the National Bank of Poland, presenting a series of slogans concerning the evaluation of the activities of the institution managed by Adam Glapiński. The central bank tries to convince the effectiveness of the steps taken by presenting theorems which are to emphasize their reliability and legality.

The central bank argues, among another things, that "all its activities are lawful" and "the rates of percent of NBP precisely and always aptly" (original spelling).

Passwords placed on the banner focus on respective key points. The Bank claims that all measures taken are lawful and meet the highest global standards. This declaration is intended to indicate that the NBP, acting under the law, complies with the prescribed standards.

Visually, the banner on the outer wall of the building is divided into 5 sections, each containing a circumstantial password. any of them stress that the National Bank of Poland was 1 of the first in taking action against inflation. In addition, the reliability of the draft inflation forecasts and the precision and aptness of the NBP interest rate policy are highlighted.

The central bank besides tries to item the global context of inflation in Poland. He claims that inflation, which has grown as a consequence of the COVID-19 pandemic and the conflict in Ukraine, is now rapidly being slowed down. He besides adds that inflation levels in Poland are akin to those in another countries of Central and east Europe.

In this way, the NBP tries to communicate and item its actions and measure the situation, explaining them and placing them in a broader regional and global context.

NBP “acts in accordance with the law”

Michał Kołodziejczak of the Civic Coalition reacted to the content of the communication, expressing his concern and suggesting that the situation may be worse than the message on billboards. His comment that if the National Bank of Poland must convince it to do its work with billboards may indicate difficulties or uncertainty about the effectiveness of the actions taken.

On the another hand, associate of the 3rd Way, Joanna Mucha, pointed out the content of the slogan announcing the legality of NBP activities. Her comment points to the complexity of the issue, referring to Copernicus-Gresham's law, which says bad money displaces good. It suggests that, despite its formal compliance, there is any concern about the quality of the action taken by the central bank and its impact on the economy.

These policy comments on the NBP Communication propose that there is simply a discrepancy between the authoritative transmission and the perception of certain problems or doubts about the effectiveness of the bank's activities. It is besides a reflection of deeper political and economical discussions on the function and impact of NBP on the economical condition of the country.

Another banner

On the facade of the building of the National Bank of Poland (NBP) for a time there was a banner, which tried to exposure success in the fight against inflation. The content of the slogan, informing about the deficiency of price changes over a period of time, has become the subject of discussion and comments. What seemed to be a message of success was met with criticism for the manipulative context.

The Confederation of Leviathan noted that what was presented as a consequence of the NBP's activities had more complex sources. economical expert Mariusz Zielonka noted that the decline in consumption played a key function in stopping price increases. In addition, stableness on the planet stock exchanges besides took part in this balance. It has been argued that external factors specified as the return of fuel, food and energy prices to pre-crisis levels are not straight attributable to the NBP's actions.

This is not the first time the NBP has tried to focus attention on another aspects, suggesting that inflation criticism be combined with Kremlin narrative. However, at the time, the bank was incapable to supply detailed run costs, resisting multi-faceted action in the various tasks.

The Polish People's organization tried to get public information on run costs, but the NBP press office replied, which did not supply precise data, explaining the different nature of the activities carried out.

All of this together sheds light on the way institutions specified as NBP communicate their actions and successes, subjecting them to public discussion and analysis.