Past event

BPCC Krakow & Bank Pekao SA: Is money printing the right thing to do? Economic forecast for coming years

On 5th March 2015, British Polish Chamber of Commerce hosted an evening discussion on current economic affairs led by Marcin Mrowiec, Chief Economist of Bank Pekao SA.

The event took place at Krakow’s historic premises of Bank Pekao SA, one of the leading commercial banks in Poland.

The event which attracted around 50 representatives of companies headquartered in Malopolska and Silesia was opened by an introductory statement delivered by Antoni F. Reczek, Chairman of British Polish Chamber of Commerce. In his speech, he solemnly welcomed all the arriving guests and expressed his satisfaction at the large turnout for the event. Subsequently, he delivered a brief lecture on financial markets and shared his perspective on what to expect in 2015.

Małgorzata Sosnowska, Regional Director of Bank Pekao SA, was next to take the floor. She started by discussing the long tradition of Bank Pekao SA in Poland and the history of its Krakow’s main premises. Furthermore, she presented banking services offered by Bank Pekao SA to corporate clients. Her statement was supplemented by a presentation delivered by Tomasz Jacak. He discussed the latest trends in mobile banking and how they had been set by Bank Pekao SA on the Polish market.

The merits-related part of the meeting was led by Marcin Mrowiec, Chief Economist of Bank Pekao SA. He started his lecture by highlighting the history of money and how the contemporary monetary system had come into being. Moreover, he shed more light on the history of world economic crises and the causes of the global financial crisis that started in 2008. Subsequently, Mr. Mrowiec went on to discussing the long-term effects of both inflation and deflation, particularly in reference to the recent decision of the European Central Bank to buy government bonds. The Chief Economist of Bank Pekao SA also compared the national debt of world’s leading economies and explained several ways to reduce it in the years to come. What Marcin Mrowiec also stressed in his lecture was the steadily low birth rate in most Western countries and the danger it poses to their pension systems. The lecture was followed by numerous questions from the audience. Afterwards, the guests were invited to the historic director’s office to taste some carefully selected meals and network with each other.

Photos by Federico Lynch