13:01 7 April 2024
NBP President: There Are No Arguments for Lowering Interest Rates
NBP President Adam Glapiński said at a press conference on Friday that there are no arguments for lowering interest rates. He announced that inflation could rise to as high as 7.9 percent if energy prices are fully liberalized, adding that the rapid increase in wages is worrying.
He added that "no member of the MPC is talking about cuts at the moment."
He pointed out that – apart from fiscal decisions – the main inflationary factor is the high rate of wage growth. Furthermore, he hopes that the Polish economy will reach a growth rate of 4 percent at the turn of 2024 and 2025. In Glapiński's opinion, Polish growth has been driven by demand for years.
"It seems that we are returning to this model and demand will be the main driver," he said.
