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POLAND: NBP's Wnorowski Reiterates Possibility of Rate Cut in Early 2025

POLAND
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Poland will likely cut interest rates in the second quarter of next year, with more rapid easing by the Federal Reserve and the European Central Bank prompting the move, policymaker Henryk Wnorowski said in an interview with Bloomberg. Below comments via BBG:

  • Inflation may “surprise positively” at the beginning of 2025, according to Wnorowski.
  • “The MPC will hold off on any decisions until at least the March inflation projection — that is beyond discussion,” he said.
  • “A rate cut could take place already in the second quarter, especially if there are additional arguments to make a reduction from the biggest central banks, for example.”

These comments are similar to those given by the MPC member in an interview yesterday. According to Reuters, he said that inflation could peak at the beginning of 2025, "So if the (inflation) projection confirms the durability of the vision I presented, then after March (the publication of the projection) it will be possible to start discussions on interest rate cuts."

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Poland will likely cut interest rates in the second quarter of next year, with more rapid easing by the Federal Reserve and the European Central Bank prompting the move, policymaker Henryk Wnorowski said in an interview with Bloomberg. Below comments via BBG:

  • Inflation may “surprise positively” at the beginning of 2025, according to Wnorowski.
  • “The MPC will hold off on any decisions until at least the March inflation projection — that is beyond discussion,” he said.
  • “A rate cut could take place already in the second quarter, especially if there are additional arguments to make a reduction from the biggest central banks, for example.”

These comments are similar to those given by the MPC member in an interview yesterday. According to Reuters, he said that inflation could peak at the beginning of 2025, "So if the (inflation) projection confirms the durability of the vision I presented, then after March (the publication of the projection) it will be possible to start discussions on interest rate cuts."