Inflation in Poland should decline in the medium term and there is no need to start a cycle of interest rate hikes, central banker Cezary Kochalski said, adding that rates may remain unchanged until the end of the term of the Monetary Policy Council (MPC) early next year.
Hungary's central bank signalled on Wednesday it would be the first in the European Union to raise interest rates since the COVID-19 pandemic began as a strong economic rebound fuels inflation pressures.
Inflation in Poland should decline in the medium term and there is no need to start a cycle of interest rate hikes, central banker Cezary Kochalski said, adding that rates may remain unchanged until the end of the term of the Monetary Policy Council (MPC) early next year.
By Reuters Staff
2 Min Read
WARSAW, April 27 (Reuters) - Poland’s central bank could consider ending its bond purchase programme in the autumn if COVID-19 restrictions are lifted and the economy starts to return to normal, Polish Monetary Policy Council (MPC) member Jerzy Zyzynski said.
Poland’s central bank started buying state and state-secured bonds in March 2020 to ensure market liquidity, and has increased its purchases this year in the face of rising yields.
“If it turns out that the economy is returning to normal, then in autumn one could think about ending the bond purchase program,” Zyzynski told Reuters in an interview on Monday.
By Reuters Staff
2 Min Read
WARSAW, April 27 (Reuters) - Polish central banker Grazyna Ancyparowicz will not vote in favour of a rate hike before her term ends in February 2022, she was quoted as saying by state-run news agency PAP on Tuesday.
Poland’s main interest rate has been at a record low of 0.1% since May 2020, but with many economists predicting inflation will exceed the upper limit of the central bank’s target range in the coming months, when to raise rates is back in focus.
“I do not see any possibility of me voting in favour of interest rate hikes before the end of my term in the Council in February 2022,” Ancyparowicz told PAP in an interview.