Andrzej Kazmierczak News
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Polish bond yields declined after policy maker Andrzej Kazmierczak said the central bank might cut rates further and before a report tomorrow that may show industrial output fell the most since 2009.
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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.
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Poland’s risk of slowing economic growth raises doubts over whether a rate increase is warranted, said Andrzej Kazmierczak, a central banker who’s sought higher borrowing costs for almost a year.
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Poland’s central bank may reduce borrowing costs next month amid a worsening economy, policy maker Andrzej Kazmierczak said in an interview with TVN CNBC.
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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.
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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.
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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.
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The zloty weakened after a report that Zyta Gilowska, a Polish central banker who backed monetary tightening at least twice in 2012, was in hospital.
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Polish five-year bond yields rose from a record low after policy maker Andrzej Kazmierczak said the central bank shouldn’t rush to cut interest rates.
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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.
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