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Tyrowicz Reiterates She Sees Optimal Level Of Rates At 7.50%-7.75%


NBP's Joanna Tyrowicz speaks on TOK FM radio after the central bank released the results of the vote at the November meeting of the Monetary Policy Council, which showed that she was the only policymaker to vote for a 200bp increase in interest rates, with all other members voting against the motion.

  • She says that her status as a member of a minority in the MPC allows her to cast such votes to signal what is the desirable level of interest rates in her view (7.50%-7.75%).
  • Tyrowicz says that approaching the inflation target only "temporarily" in 2024 would be "deeply dissatisfying". She adds that the level of fiscal stimulation planned by the government is "non-negligible".

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