By Wojciech Kosc in Warsaw The National Bank of Poland (NBP) left its reference interest rate unchanged at 6.75% for a fourth consecutive meeting on January 4 (chart). The decision is in line with market consensus. The NBP’s shifted its focus from containing inflation to preserving conditions for economic growth – feeble as it is expected to be in 2023 – after aggressive tightening that took place between October 2021 and September last year set the context for price growth to begin easing gradually. Poland’s CPI growth remained at a multi-decadal high of 17.5% y/y in November but still came i…