Poland's MPC 'very likely' to cut rates in May; total 50-100 bps cuts possible in 2025, says member
Poland's Monetary Policy Council is very likely to cut the interest rate by 50 basis points in May and by up to 100 basis points in the whole of 2025, MPC member Ludwik Kotecki told TOK FM radio.
"It seems very, very possible. The argument that will prevail will be the March data on the state of the economy. I think the March data will be closer to the weak February data than the good January data. (...) For this reason, I believe that the May Council will be with interest rate cuts, " Kotecki said
"I would stand by what I have been saying for many months, that this year I see room for cuts totalling 50-100 basis points (...) They are strong enough for the start, because 5.675 percent with data like this is clearly too much," he added.
Asked whether a 50 basis points rate cut in May was possible, Kotecki said it was "on the table".
The MPC member added that there is no need for the MPC to hold an additional meeting in May on an emergency basis, as the next MPC meeting is scheduled for early June.
He indicated that there is currently "quite a lot of doves" in Poland's Monetary Policy Council.
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