Poland's current level of interest rates is optimal, says central bank's Duda

WARSAW, Nov 30 (Reuters) - The current level of interest rates is optimal, said central banker Iwona Duda, quoted by Dziennik Gazeta Prawna on Wednesday.

At its November meeting the Monetary Policy Council (MPC) kept its main interest rate at 6.75% for the second month in a row, and National Bank of Poland (NBP) Governor Adam Glapinski said the rate hike cycle was being paused but could continue.

"... in the current situation, in the light of the available data and forecasts, especially the NBP inflation projection, the level of interest rates is optimal," Duda, a member of the rate setting Monetary Policy council, told the daily.

New central bank projections forecast inflation in Poland will not return to the NBP's target range of 1.5%-3.5% until the third quarter of 2025.

"The current rate hikes are working, although their impact is not yet fully visible, because it will take several quarters," MPC member said.
Reporting by Pawel Florkiewicz; Editing by Frank Jack Daniel

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.