Interest rate cuts possible in December

Poland's central bank may break tradition and cut interest rates again in December to help economic growth, the bank's governor Sławomir Skrzypek said on Thursday. According to Skrzypek, between 2009 and 2010 inflation will return to NBP's goal of 3.5 percent.

"Lowering interest rates by 25 basis points is a signal that the cycle of rate hikes has come to an end and we're entering a phase of easing monetary policy," Skrzypek told TVN CNBC.

There's even a possibility to break tradition and lower interest rates in December, according to Skrzypek, however it's hard to predict what the scenario is going to be like for the next few months and it's not ruled out that a number of interest rate cuts by 25 basis points will take place.

The central bank's rate stands at 5.75 percent after policymakers cut interest rates last month, the first reduction since 2006.a

Source: TVN CNBC, Reuters