Poland shouldn’t rush to lower borrowing costs as the country needs to maintain positive real interest rates to boost banking deposits and protect the zloty from slippage, Andrzej Kazmierczak, a member of the Monetary Policy Council, said in an interview in Warsaw yesterday.
Poland should increase interest rates “only if inflation grows dramatically, and nothing like that is happening,” Andrzej Kazmierczak , a member of the central bank’s Monetary Policy Council, said today in Warsaw.
It’s too early for Poland to relax monetary policies because curbing inflation to the central bank’s 2.5 percent target has an overriding priority and all other considerations are “secondary,” Andrzej Kazmierczak of the Monetary Policy Council said today in Warsaw.
Poland’s central bank will cut borrowing costs for the first time since 2009 as the European Union’s biggest eastern economy slows amid the euro-area debt crisis, according to all 35 economists surveyed by Bloomberg.
Poland’s central bank should keep its tightening bias in monetary policy until the “negative processes” that are strengthening inflation subside, Andrzej Kazmierczak, a member of the rate-setting Monetary Policy Council, told the PAP newswire today.