17:11 23 August 2022
Interest rates will no longer rise in Poland: economist
On September 7, the Monetary Policy Council will meet for its next decision-making meeting (there is a non-decision-making meeting on August 23). As suggested by the National Bank of Poland's president and MPC chairman, Prof. Adam Glapinski, rates are expected to rise by 25 basis points at that time, which would end the cycle of increases. According to Andrzej Stefaniak, an economist and currency dealer at DMK, the current level of interest rates is optimal. In contrast, next year we will see rate cuts around the world, including in Poland.
"I believe that interest rates in Poland will not go up again. The level of 6.5 percent is optimal, it is such a balance between keeping inflation from continuing its upward trend, but also keeping economic growth in Poland above the line," Andrzej Stefaniak assessed.
"The central bank now has to balance these two forces, so that the real interest rates that a retail customer or a business receives do not exceed 10 percent, because this is a psychological barrier and is of great importance for the economy as a whole. The market is already pricing that next year, a year from now to be exact, the cycle of interest rate cuts will begin, depending on what the trajectory of inflation in our country will be," he added.
(Newseria)
