RPP member Grabowski threatens to resign in protest over salary cut

Monetary Policy Council (RPP) member Boguslaw Grabowski has threatened to resign if parliament votes to cut the pay of council members. He told Reuters that he and some of his colleagues would resign in protest if a bill is passed which bank sources say aims to slash central banker wages by about 50%. The bill, drafted by the Left Democratic Alliance (SLD), the party widely expected to win the upcoming election, is now being scrutinized by the lower house of parliament and should be voted on within a few weeks. "Undoubtedly, this is an attempt at revenge or blackmail. This is taking place during a frontal attack on the council for its monetary policy and high interest rates," said Grabowski. He did not say how much RPP members earned, but sources close to the central bank said it was between $6,000 and $10,000 per month. Three other council members contacted by Reuters declined to comment on whether they would consider quitting if the bill was passed. None of the major political parties is expected to be very loud in opposing the wage-cap bill. (Reuters)