Poland's sharp drop in inflation projection suggests greater rate cuts, says c. bank governor
The sharp drop in inflation in the projection suggests greater rate cuts, 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.
"It will depend on what the projection for the fall in inflation will be. If there will be a projection of a sharp decline in inflation, which is flying headlong downwards, then this decision is possible, and if it is coming down very slowly then we will proceed at 25 basis points," Glapinski said.
"If inflation falls sharply in the projection, then we will have to act accordingly. There is really no contraindication to this. As I talk to the members of the Council, they are all tired of us not being able to start cutting rates for so long," he added.
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