Jan Czekaj criticizes Monetary Policy Council's current policies

Following the tragic death of Janusz Krzyżanowski, the most serious candidate for membership of the Monetary Policy Council (RPP), Jan Czekaj, said yesterday that the current policy pursued by the RPP was far too restrictive. Czekaj added that decisions on monetary policy were not only affected by inflation, as was earlier suggested by other RPP members, but also by unemployment indicators coupled with economic growth. Because of low salaries, Czekaj does not expect inflation to rise considerably in the coming months. On the other hand, if this year's agricultural production is down because of the prevailing weather, the result may be a rise in inflation. "It is difficult to fight the weather by using interest rates," he stated. (Puls Biznesu, p. 4) A.Z