There’s a “low probability” Poland’s central bank will reduce interest rates next month as borrowing costs approach a level that risks triggering outflows from Polish bonds, policy maker Adam Glapinski said.
Poland’s central bank should wait until June at the earliest before potentially resuming interest- rate cuts because it needs to “better assess” the prospects for economic recovery, according to policy maker Adam Glapinski.
Poland’s central bank would make “a serious mistake” if it raises interest rates in May because the move would needlessly stifle growth with inflation set to slow later this year, rate setter Adam Glapinski said.
Poland’s central bank is “very likely” to raise borrowing costs next month as the economy is weathering Europe’s debt crisis while a weaker zloty stokes inflation, monetary-policy maker Adam Glapinski said.
Polish monetary easing has been completed after the benchmark interest rate was cut last week to record low of 2.75 percent, a level that “opened uncharted territory in terms of how the market and short-term investors react,” central banker Adam Glapinski said in an interview in Warsaw on June 8.
Poland’s central bank independence is “at risk” as policy members discuss how much of the bank’s profit should be transferred to the government to bolster the state budget, Monetary Council member Adam Glapinski said.
Poland’s central bank will cut its benchmark interest rate in December for a second month as growth in the European Union’s biggest eastern economy slows to its weakest since 2009, policy maker Adam Glapinski said.