Gronkiewicz-Waltz foresees no cuts in interest rates before end of year

Hanna Gronkiewicz-Waltz, the outgoing president of the National Bank of Poland (NBP), said she does not expect any interest rate cuts before the end of the year, when she is set to leave her post. In January of next year Gronkiewicz-Waltz is due to become the vice-president of the European Bank for Reconstruction and Development (EBRD). She also said that over the past ten years Poland has managed to build a stable economic foundation, indicating that departures of such individuals as Leszek Balcerowicz or herself should not hurt the economy. According to many analysts there is no reason to worry, as her successor at NBP will obviously be a professional who will guarantee that monetary policy is conducted in a responsible manner. The top candidates are presidential economic advisor Marek Belka and two Monetary Policy Council (RPP) members, Boguslaw Grabowski and Dariusz Rosati. However, several entrepreneurs and economists polled by Puls Biznesu named Leszek Balcerowicz as the top candidate. (Gazeta Wyborcza, p. 1, Puls Biznesu, p.7, Reuters)