Polish inflation's March projection key for rates cut discussion, says c. bank governor
If the March inflation projection shows stabilisation and then a drop in CPI inflation in the coming quarters, the discussion about interest rates cut can begin, Poland's central bank NBP's governor Adam Glapinski told a press conference following a Monetary Policy Council's decision on interest rates made on Wednesday.
"Further development of the situation depends on the data and the uncertainties I have pointed out. Some of the MPC members are saying in public appearances that (...) some discussion will take place after March projection (...) and then a situation can take place that the projection will show that the inflation has stabilised, high but stabilised, shows no growth trend and will fall in the coming quarters," Glapinski said.
"If such a situation takes place, the MPC will start discussing if and when the interest rate cuts cycle should start. I'm not saying everyone will make such a decision immediately, but some people will make such motions for sure - I repeat, the Council is made up of 10 members," he added.
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