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POLAND: MPC's Kotecki Sees No Room for Rate Cuts in 2024

POLAND

MPC member Ludwik Kotecki has spoken to reporters about monetary policy in Warsaw. The comments below are via Bloomberg: 

  • “We are in a kind of trap, we are having a credibility issue. Perhaps now it would be better to have a tighter monetary policy to end the fight with inflation” 
  • “If raising rates is not the best idea, then maybe one should look for another instrument that would tighten the policy a bit”
  • “I submitted a proposal, but can’t talk about the details”
  • Sees no room for rate cuts in 2024, hikes are also unlikely
  • Wages increase is “very worrying”

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