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MPC's Duda Says Interest Rates Are At Optimal Level


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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