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MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Wnorowski Says Fiscal Proposals Could Warrant Keeping "Wait-And-See" Approach For Longer

NBP

NBP's Henryk Wnorowski said that the central bank's "wait-and-see" strategy is justified as inflation remains elevated, adding that pro-inflationary fiscal proposals announced during the ongoing election campaign might warrant keeping interest rates at their current levels for a longer period of time.

  • "The current path of inflation decline seems realistic, but if we notice that something is wrong, that the rate of disinflation deviates from the one included in the projection, we will go back to raising (rates)," Wnorowski said according to a Reuters report.
  • The official said that the proposed fiscal stimulus would probably only be implemented in 2024 when inflation will not be such a big problem. Wnorowski argued that pre-emptively raising rates now "would not be compatible with the credibility and stability of the central bank."
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