Poland may see discussion on rate cuts starting from October 2025, says c. bank governor
There is now talk that the discussion of rate cuts may start from October, Poland's central bank NBP governor Adam Glapinski told a press conference following a Monetary Policy Council's decision on interest rates made on Wednesday. Glapinski added that the prospect of cuts is shifting to 2026.
"Almost half of the Council has spoken publicly that the discussion about reductions would start at least after March. Now there is talk that such a discussion may start from October next year," the NBP governor pointed out.
"But it will not be a discussion that will lead to an interest rate cut because we will be dealing with the beginning of a new wave of rising inflation. This is not just my view, I am saying what it looks like in the Council," he added.
Adam Glapinski stressed that the MPC will start a debate or even decide on rate cuts just at the moment when the inflation stabilises.
"The Council will certainly move to a debate, if not a decision, at the moment when inflation stabilises, does not continue to rise, and it will be clear from the projections that a process of decline is beginning. That's when the debate will be, not when we assess that inflation will rise," he said.
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