Deputy PM and Finance Minister Jacek Rostowski said that he is satifsied that the Monetary Policy Council (RPP) recently decided to cut Poland's benchmark interest rate by 50 basis points.

“I hope that, after a short pause, maybe a month, this policy will be continued,” he told radio TOK FM.

Mr Rostowski added that, contrary to earlier speculations, the rate cut did not have a negative effect on the currency market. “If the RPP had begun this round [of cuts] in June or in August [of last year], after it made the mistake of raising rates, the economy would have been stronger, unemployment lower, maybe significantly lower, but better late than never,” the finance minister said.

Poland A.M.