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Glapinski Says Inflation Will Stabilise Through Year-End, January Will Bring More Clarity

NBP

Governor Adam Glapinski confirms that headline inflation is expected to stabilise through the year-end and may even increase slightly in December. The Governor doesn't expect uncertainty to ease by December but "January will be interesting" as it will bring more clarity on the possible extension of some of the existing anti-inflationary measures.

  • The Governor says that he personally "doesn't envisage" rate hikes any time soon. However, he adds that if the NBP reduced rates too much, it might be forced to hike further down the road. He says that "nobody wants to rush with easing" amid elevated uncertainty, noting that the picture might be clearer in January.
  • Glapinski says that the central bank hasn't intervened in FX markets recently and PLN strength stems from strong fundamentals.
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