Poland's c. bank not directly guided by Fed and ECB decisions, says governor
Decisions by the Fed and the ECB to cut interest rates show direction, but Poland's central bank NBP is not guided by whether it is ahead or behind any of them, NBP's governor Adam Glapinski told a press conference following a Monetary Policy Council's decision on interest rates made on Wednesday.
"The direct impact (of rate cuts by other central banks) is that the strength of the zloty has increased," Glapinski assessed.
He added that this has an anti-inflationary effect.
"It is not a decisive factor. Apart from that, the zloty is strong for other reasons (...), because the economy is strong, because the growth rate is very high, because there is a guarantee of solvency, stability, because we have reserves," central bank's governor listed.
Glapinski also pointed to the impact of other central banks' decisions on the bond market.
"This is what matters. That's the direction we will definitely go, too," NBP's governor said.
"I don't know if in March - maybe in April, maybe later, maybe earlier. We are not guided by whether we are ahead or behind the Fed or the ECB (...). The whole world economy is going more or less in the same direction," he concluded.
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