Kotecki Says MPC Is Not Discussing Interest Rate Cuts

NBP's Ludwik Kotecki told TOK FM radio station that the latest macroeconomic projections do not justify lowering interest rates and the Monetary Policy Council is not holding any such discussions.

• "If we believe the projection of NBP analysts, there are no conditions today for lower interest rates until there are new projections showing that such conditions have appeared. As for today, there are no conditions for doing this until the end of the forecast horizon, that is until the end of 2025, because we still aren't reaching the inflation target."
• The official said that he doesn't see any sustainable signs of easing price pressures and expects core inflation to keep rising in the coming months. He noted that "we are moving away from the promises of some MPC members, who suggested that inflation could reach single-digit levels in December."