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MPC's Tyrowicz Reaffirms Call For 200bp Rate Hike

NBP

Joanna Tyrowicz told TVN24 that the NBP's key interest rate should be raised to 7.75% from the current level of 5.75%, which would allow for a sustained return to the inflation target. Available voting records suggest that she has consistently pushed for a 200bp rate hike at the recent MPC meetings, but none of the remaining 9 members joined those efforts.

  • Tyrowicz said that inflation should not return to double-digit levels, barring any unexpected external shocks, but the NBP should aim at bringing it to the +2.5% Y/Y target in a sustainable manner, which will not happen "for a very long time."
  • She refused to reveal if she would sign off on the motion to put Governor Adam Glapinski on trial if she could and refused to assess the merits of the motion. However, she reiterated the familiar criticisms of the Governor's conduct.
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