Poland's discussion on rate cuts without Q1 '25 wages data lacks grounds, says MPC member
A discussion on interest rate cuts without the data on wages in the first quarter of 2025, which will be available in the second half of April, would have no substantive basis, Poland's Monetary Policy Council member Joanna Tyrowicz told Puls Biznesu daily. At the same time, she stressed that it is not a signal from her side on when such a discussion would start.
"Only when we see what happens to wages in 2025, and we will know roughly in the second half of April, (...) by then it will be difficult to assess whether rapidly rising wages are an additional problem for bringing inflation down to target or not," Tyrowicz said.
"Any discussion in March is simply premature. Nor will I know in April, because we won't see the data [on wages - PAP ed.] until the end of April. That is, it is the first time you can have any substantive assessment at the May meeting on the matter," she added.
The MPC member stressed, however, that this does not represent her stance on the matter nor can be interpreted as a signal from her on when such a discussion would start.
"But this is a straightforward translation of when the data is available and some conclusions can be drawn for the meeting dates, not my information about when I think it would be appropriate to talk about reductions. Any conversation about reductions without that data is just deprived of knowledge," she said.
tus/ ao/
