Poland’s central bank Governor Marek Belka is keeping mum about the future path of interest rates, seeking to prevent traders from prematurely betting on higher borrowing costs and squeezing the nascent economic recovery.
Poland’s incoming Finance Minister Mateusz Szczurek said he’ll seek to use European Union funds to bolster a nascent recovery, signaling to investors that growth will remain a priority while the cabinet cuts the deficit.
Poland’s central bank has plenty of time to plot its next move after pledging to keep borrowing costs at a record low until mid-2014 as the economy recovers without stoking inflation pressure, Governor Marek Belka said.
The dollar dropped against all but one peer after U.S. employers added the fewest jobs in two years in December, reducing speculation the Federal Reserve will wind down the bond-buying it uses to support economic growth.
Benefits to adopting the euro, such as easier access to capital and foreign funding, are becoming “fiction,” Polish Finance Minister nominee Mateusz Szczurek said in an interview with Dziennik Gazeta Prawna.