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MPC's Litwiniuk Sees Arguments That Could Eventually Justify "Correcting" Earlier Rate Cuts

NBP

MPC's Przemyslaw Litwiniuk told TOK FM radio this morning that "there are arguments that could, in certain circumstances, support a correction of the erroneous rate cuts delivered last year."

  • The official said that he did not see the need to hike interest rates at this point, but every consecutive month brings new upside risks stemming from fiscal policy.
  • Litwiniuk noted that now is a good moment to "think about building a majority [in the MPC] adjusting interest rates to what may happen in December or 1Q2025."
  • The official also backed the decision to increase Poland's gold reserves to 20% of overall reserves, calling it "the right proportion."
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