RPP: A change in direction may be needed

Monetary Policy Council (RPP) member Jerzy  Osiatyński said that a change in policy direction may be needed, and that thus, interest rates may rise in the future. In an interview with Bloomberg on Thursday, Osiatyński noted that the current deflationary trend may hold until the third quarter of this year, and that inflation may only return to Poland in 2017. He also stated that from 2017 onwards, public finances may be "difficult to hold on a leash", noting that by then the new elected members of the RPP may have different views on the country's fiscal policy. Osiatyński also added that in his opinion the latest depreciation of the złoty was only temporary. "Serious and long-term investors know that the złoty is undervalued." he said.