No rise for interest rates in sight

"Neither economists nor the market expect that," stated Jacek Wisniewski, the chief economist with Raiffeisen Bank. What is important, however, is the justification for the decision which the Council will publish in a special communication. "Although I do not expect a clear declaration that there will be an interest rate increase soon, I expect that it will happen in April," said Piotr Kalisz, an economist with Citibank Handlowy. The market expects that interest rates to be increased within the next three months but some experts believe that the council is in no hurry to push rates higher. "The inflation rate has not reached the inflation target for two years and it does not seem that it will happen soon," said Bartosz Pawlowski, an economist with ING. "Therefore the Council needs some other justification for a rate increase." (Puls Biznesu, p. 13) E.B.