Belka: lowering interest rates won't be a catastrophe

Lowering interest rates will be unnecessary and wrong, but it won't be a catastrophe, said head of the central bank, Marek Belka. The Monetary Policy Council (RPP) kept interest rates unchanged at its last sitting, but said that in the coming months rates might be lowered slightly. "Every month that passes after the electoral campaign is advantageous from the point of view of economic policy. I once said that the wisest opposition is more stupid than the most stupid government. As one moves from opposition to the government, his reason immediately returns," said Belka. He added that in the coming months, deflation will turn into inflation, thus real interest rates will fall by 1.5 points.