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Rates may stay flat beyond 2014, say central bankers

16th December 2013
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Monetary Policy Council (RPP) Members Elżbieta Chojna-Duch and Anna Zielińska-Głębocka both said that the National Bank of Poland’s reference interest rate may stay at its record low beyond mid-2014. The RPP has maintained a neutral stance since July 2013. 

Elżbieta Chojna-Duch
Couretsy of National Bank of Poland

“It should be possible to keep rates unchanged even until the end of next year,” Ms Chojna-Duch told Bloomberg in an interview. “Short-term forecasts suggest inflation could be lower than our projection of 1.7 percent and there isn’t going to be any wage or price pressure with the economy growing at its current pace.” 
Ms Zielińska-Głębocka also said rates could stay low past July next year. Even if inflation rises alongside higher GDP growth, the central banker  would “prefer to enjoy the stronger economy rather than worry about price growth,” she said.


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