23rd January 2013
Thursday, May 23rd, 2013
RPP member advocates deeper rate cuts
Andrzej Bratkowski, a member of Poland's Monetary Policy Council (RPP) told Bloomberg that the country's benchmark interest rate should be cut by one percentage point from the current level of 4 percent.
“Without further easing to 3 percent, the economy will stagnate at 0 or 0.5 percent growth,” Mr Bratkowski said. He added that, even if cuts are made, Poland's GDP growth will slow down to 1.5 percent in 2013. The RPP has reduced interest rates by 75 basis points since November 2012, cutting by 25 basis points each month.
The council is again expected to cut rates by 25 basis points at its February meeting.
From Warsaw Business Journal
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