Is the government now trying to blame the NBP for the failure of reform?

The National Bank of Poland on Saturday strongly rejected government criticism of its interest rate policy, in the ongoing verbal conflict between politicians and monetary policy makers. "We are facing another wave of aggression from the government an unprecedented attack on the central bank and an attempt at shifting responsibility for giving up reforms," said Lukasz Kwiecien, advisor to the central bank's governor. "The NBP's interest rates have been cut 16 times over the past two years and the government's aggression is still on the same level," he added. Another small rate cut is widely expected later this month. The Bank also rejected pressure from the government to agree on a partial release of NBP reserves. (Reuters) J.K.