Low fertility and increasing life expectancy in most of the world's economies are causing a decline in the natural interest rate. Too restrictive monetary policy may increase the risk of the economy falling into a deflationary trap.
There are many indications that the period of fast growth of the Polish economy is already behind us. Simple growth reserves have been exhausted and high-tech production in has not been developed to a significant extent.
The shrinking labor supply that is reported by entrepreneurs from the Central and Southeast European (CSE) countries may soon have a negative impact on economic growth in the region. In the countries of the so-called old EU, this problem is still less important.