Glapinski Says Rates Are At Adequate Levels, Too Early To Discuss Cuts

NBP Governor Glapinski says that based on the data available today, the current level of interest rates is adequate.

• Again, he frames the central bank's task as a difficult balancing act, noting that the central bank must take into consideration the impact on growth and employment while it seeks to achieve its inflation mandate.
• Glapinski says that it is too early to discuss rate cuts. He has refrained from explicitly declaring an end to the tightening cycle so far, despite arguing against more rate hikes.
• The Governor notes that the Polish Zloty is a "strong currency" and there is no need for its further appreciation.