Poland's interest rates likely to decline further if there is no jump in CPI, says c. bank governor
Interest rates in Poland are declining and are likely to decline further if there is no jump in inflation, Poland's central bank NBP governor Adam Glapinski told Thursday's press conference following the decision-making meeting held by the Monetary Policy Council on July 1-2.
"If inflation stays at 2.5 percent in our country, interest rates will also go down to a similar level, but these are not high rates," Glapinski said.
"Rather, we are trying to keep rates so that they act anti-inflationary, but by no means excessively high and stifle the economy. We care about the welfare of the economy, although our job is primarily to suppress inflation," he added.
Poland's central bank governor pointed out that, in his view, luckily the current economic cycle and a cycle in inflationary processes foster the decline in interest rates.
"(...) the interest rates are declining and will probably go down unless there is a jump in inflation, which is difficult to predict. I don't see such a reason at the moment, but it's difficult to predict," he added.
pat/ map/ tus/ jz/ han/ ao/
