16:47 20 September 2023
Space for more interest rate cuts ‘narrower’ - NBP head
The President of the National Bank of Poland (NBP), Adam Glapiński, has stated that while the space for further interest rate cuts has narrowed, they will still depend on incoming data. He defended the recent rate cut by citing economic data indicating that GDP growth and inflation could be significantly below previous projections.
Glapiński responded to accusations that the NBP had abandoned its inflation target by emphasizing the consideration of inflation forecasts and monthly inflation indicators, which showed only a slight increase in prices since April, largely reflecting earlier price hikes. This suggests that the NBP remains cautious about inflationary pressures and will adjust policies based on incoming data and forecasts.
Source: 300gospodarka.pl
