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MPC's Duda Says Interest Rates Are At Optimal Level

NBP

DGP runs snippets from the first interview with NBP policymaker Iwona Duda since her appointment to the Monetary Policy Committee in October.

  • Duda notes that the current level of interest rates is "optimal" and the assumption of reaching the inflation target gradually is "very much correct" if we want to avoid a deep economic recession and excessive social costs.
  • She points to the delay in the impact of interest rate hikes delivered to date on the real economy, which may take several quarters.
  • Asked if she identifies as a hawk or dove, Duda says that she advocates "fit and proper" monetary policy, which means "prudence and sufficiently flexible reactions."
  • Duda was elected to the MPC by the lower house of parliament after serving as CEO of Poland's largest bank PKO BP.

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