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Iwona Duda Says Central Bank Is In Wait-And-See Mode, Sees Room For PLN Appreciation

NBP

The Polish central bank remains in a wait-and-see mode while any discussion of rate cuts would be premature, MPC's Iwona Duda told PAP newswire.

  • "The weakening of global economic conditions will lead to lowering of economic growth rate in Poland, while monetary policy tightening by major central banks will limit inflation, both globally and in Poland."
  • "However, it is not the moment to formulate expectations as to whether the next MPC move should be a hike or a cut of interest rates."
  • The official said that she sees room for further Zloty appreciation given Poland's strong economic fundamentals.
  • Her latest comments suggest that Duda stands by her earlier view that the current level of interest rates is "optimal," albeit she refrained from ruling out further tightening.
  • The former banker was tapped to become MPC member last October and for the first time participated in a meeting of the rate-setting panel the following month.
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