By Adrian Krajewski
WARSAW, Dec 15 (Reuters) - Polish consumer prices and wages rose more slowly than forecast in November, prompting analysts to predict the central bank's Monetary Policy Council (MPC) may cut interest rates by as much as 50 basis points next week.
Polish consumer prices
Month-on-month inflation
Poland had been relatively reluctant to join other European central banks in cutting rates, citing still-strong growth and a tumbling zloty currency, but the MPC launched a monetary easing cycle last month with a 25 basis point reduction.
Monday's slew of data provided possible ammunition to supporters of swifter monetary easing on the 10-strong panel.
"All of the data are lower than previously expected. In our opinion the data are likely to prompt the Monetary Policy Council to cut rates, and the Council may decide to cut (rates) by 50 basis points as soon as December," said Piotr Kalisz, senior economist at Bank Handlowy in Warsaw.
The statistics office also said corporate sector wages grew 7.4 percent year-on-year in November to 3,321 zlotys per month, against a forecast of 8.6 percent.
"Generally, all this data... gives one signal -- that the inflation outlook is improving," said Piotr Bielski, an economist at Bank Zachodni WBK.
"Job market growth is also easing which is also good for the inflation outlook. This all supports an interest rate cut already in December. The question now is how deep the cut will be," he said.
In other data released on Monday, Poland's January-October trade deficit stood at 20.1 billion euros, compared to 13.16 billion euros in the same period in 2007. (Writing by Gareth Jones)