Tyrowicz Reaffirms Her View That NBP Should Raise Interest Rates

NBP's Joanna Tyrowicz speaks on TOK FM radio as we type, noting that Poland's economy could be on a better path if the central bank was actually pursuing its mandate and actively reducing inflation.

• Asked what message the NBP should be sending, Tyrowicz says that it should tell the public that "our job is not done" as more monetary tightening is needed.
• Tyrowicz says that the current level of interest rates is "definitely not sufficient" and insists that her view is supported by staff analyses.
• The official refuses to discuss rate cuts and reiterates her call for a rate hike, which she says would have a strong and immediate signalling effect.
• The policymaker says that the government's subsidised mortgage scheme is complicating monetary policy by stimulating credit flow.
• Tyrowicz is the most hawkish member of the Monetary Policy Council and repeatedly dissented to vote in favour of raising interest rates.