Poland's central bank ready to act to curb inflation, says governor

WARSAW, Nov 25 (Reuters) - Poland's central bank (NBP) is ready to hike interest rates further to prevent persistent elevated inflation, the bank's governor told monthly Gazeta Bankowa in excerpts from an interview published on Thursday.

The NBP has delivered two rate hikes in the past two months, lifting its main rate to 1.25%. However, it was slower to start raising rates than other banks in the region and has refused to commit to a tightening cycle.

"We have taken decisive action to curb inflation. We raised interest rates twice and we will continue if necessary," Adam Glapinski was quoted as saying.

"Just as we were determined to save the Polish economy during the pandemic, we will not allow elevated inflation to persist. Of course, while ensuring sustainable growth," he added.

October inflation in Poland was 6.8%, well above the upper limit of the inflation target of 3.5%.
Reporting by Anna Koper; Editing by Kirsten Donovan

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