Economy Minister urges interest rate cuts as RPP gathers for meeting

Economy Minster Jacek Piechota has said he expects the Monetary Policy Council (RPP) to announce a cut in interest rates during its two-day meeting that starts today. "I expect a rate cut in the present situation, with inflation allowing such a move," Piechota commented. Analysts, however, disagree, saying that no further rate cuts can be expected for at least a month. "There are good arguments for holding rates steady," said Janusz Jankowiak, chief economist with BRE Bank. Speaking ahead of the meeting, RPP member Janusz Krzyzewski said, "We will consider ways to improve the e conomic performance, which is not good." (Prawo i Gospodarka, p. 1; Gazeta Wyborcza, p. 18; Reuters) M.K.