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Przemyslaw Litwiniuk Calls Mortgage Holiday Extension Talk Premature At This Stage

NBP

NBP's Przemyslaw Litwiniuk told PAP newswire that any speculation about the possible extension of mortgage payment holidays are premature, as there are no grounds to expect monetary policy tweaks, while such chatter could affect business decisions.

  • "In the election year a lot will depend on the government's fiscal policy (...) Declaring at this stage the continuation of measures which are not disinflationary is not desired from the point of view of the efficiency" of the central bank in reaching its monetary policy remit.
  • Litwiniuk's comments echo the assessment voiced by his colleague from the MPC Ludwik Kotecki in yesterday's interview with Gazeta.pl. Kotecki suggested that any discussions of mortgage holiday extension suggest that the government does not believe in quick disinflation and rate cuts.
  • Litwiniuk and Kotecki are both hawkish dissenters in the MPC and voted in favour of interest-rate hikes in December, the last meeting for which the voting splits are known.

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