A spring in investors’ steps

Following the travails of the banking sector in early March, investors were soon able to get over their fears of another financial crisis and concentrate on such good news as the steady growth on the main stock market indices across the world, which persisted into early April. Although there were signs of a correction at the beginning of the month, investors clearly judged (as did economists) that the most threatening global inflation worries had passed. Hope has arisen that the tightened fiscal policy cycle is coming to an end and that in the longer term interest rates will be lowered. And while financial institutions have downgraded their global economic growth forecasts, such corrections are now minimal – and their predictions for inflation are that it will be lower than last year. For the Polish stock market, the last few weeks have been very good. The main indices rose, but the scale of this growth was surpassed by the sector indices. The residential development sector, whi