Wnorowski Says It's Too Early To Say If NBP Cuts Rates In September Or October

The Monetary Policy council is heading towards its first rate cut, Henryk Wnorowski told catholic radio station Radio Maryja today, adding that it is too early to say if it will happen in September or October.

• Commenting on today's flash CPI data, Wnorowski said that he doesn't know the timing of the expected rate cut, but it is certainly not a distant prospect and we are approaching the point at which the MPC will lower interest rates. He expects disinflation to accelerate, as consumers tighten their belts after the summer holidays.
• "We can now say that this tendency for inflation to ease is durable, with all certainty. I believe that there are reasons to believe that these decreases will be larger, that there are no fundamental, that is cost-related, reasons for Poland's inflation being still so high."