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Polish interest rates at the right level: rate-setter

PR dla Zagranicy
Paweł Kononczuk 19.01.2016 12:51
Poland’s interest rates are at the right level and should be maintained until inflation kicks in, rate-setter Adam Glapiński has said.
Photo: Flickr.com/Simon Cunningham
Photo: Flickr.com/Simon Cunningham

"In my opinion, the current level [of rates] should last until… prices start to rise, signifying an upturn, an acceleration of economic growth. And that would be my advice to new members of the Monetary Policy Council. Stability as long as possible and then starting a series of interest rate hikes,” Glapiński told Poland’s PAP news agency.

The Polish central bank’s Monetary Policy Council (RPP) last week left the benchmark interest rate unchanged at a record-low 1.5 percent, arguing the decision would help keep the economy on “a sustainable growth path".

PAP reported that Glapiński is being considered as a replacement for central bank governor Marek Belka, whose terms in the post expires 11 June. (pk/rg)

Source: PAP

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