MPC to keep wait-and-see stance till end-2017

Poland’s Monetary Policy Council (RPP) will likely keep its wait-and-see approach until the end of the year, rate-setter Grażyna Ancyparowicz said, adding that hikes are a possibility afterwards.

She also said that if a rising trend in inflation is sustained, tightening monetary policy will be needed before inflation reaches inflation target’s upper bound of 3.5 percent.

“The risk of exceeding the inflation target (2.5 percent) is small, but if a rising trend in inflation is sustained for a longer period of time, delicate corrections in the level of basic rates will be necessary before inflation reaches the upper bound of the inflation target,” she told Reuters, adding she does not expect it to happen before the turn of this and next year.

In January the inflation stood at 1.8 percent.

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