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MNI INTERVIEW: NBP Rate Cut Talk Premature - MPC's Tyrowicz

Polish monetary policymaker assesses inflation outlook

MNI (LONDON) - Poland is more than a year distant from price stability, with growth in wages and in prices for goods and services, together with government borrowing, buoying inflation despite weak external demand, National Bank of Poland’s Monetary Policy Council Joanna Tyrowicz told MNI, adding that it was too soon to consider rate cuts.

“In terms of bringing prices back to target, the Polish economy is out of sync with the global trends by approximately six quarters,” Joanna Tyrowicz said in an interview after the NBP again decided to leave the reference rate at 5.75%, one year after rates were last lowered.

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MNI (LONDON) - Poland is more than a year distant from price stability, with growth in wages and in prices for goods and services, together with government borrowing, buoying inflation despite weak external demand, National Bank of Poland’s Monetary Policy Council Joanna Tyrowicz told MNI, adding that it was too soon to consider rate cuts.

“In terms of bringing prices back to target, the Polish economy is out of sync with the global trends by approximately six quarters,” Joanna Tyrowicz said in an interview after the NBP again decided to leave the reference rate at 5.75%, one year after rates were last lowered.

Keep reading...Show less