© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: HKMA Lifts Base Rate After Fed Hike

MNI: PBOC Net Drains CNY45 Billion via OMOs Thursday

Coming Up In The Asia-Pac Session on Thursday

EZ/UK Bond Supply Calendar: UK Long APF Sales on Monday

US EIA: CRUDE OIL STOCKS EX SPR +1.12M TO 481.2M MAR 17 WK

MNI: Freeland-Banks Well Capitalized, Budget To Focus Stimulus

MNI BRIEF: Joint European Funds Best Response To IRA-Gentiloni

MNI BRIEF: Fed, Treasury, FDIC-Big Banks Back First Republic

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Kotecki Says MPC Is Not Discussing Interest Rate Cuts

NBP
BulletEM BulletEmerging Markets NewsHomepage

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."
137 words

To read the full story

Why Subscribe to

MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

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."