Central Bank head: no space for lowering interest rate

Speaking after a meeting of the monetary council (RPP), Adam Glapiński, the head of central bank NBP said that there is no possibility to commence lowering interest rates. He added that he expects GDP growth to stand at 3.1-3.3 percent in 2016. Glapiński said that he is considering an increase of interest rates at the end of 2017, with the acceleration of economic growth and inflation. The head of the central bank said that deflation would subside towards the end of the year and will turn into low inflation of around 1 percent next year.