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Wnorowski Says New Social Spending Will Stimulate Inflation

NBP

Wires are running comments from NBP's Henryk Wnorowski who yesterday told local broadcaster TVP Bialystok that the ruling party's proposal to raise the monthly pay-out from the "Family 500 plus" programme to PLN800 from PLN500 per child will likely fuel inflation.

  • The official clarified that the proposal would be implemented at a "time when inflation in Poland will not be some significant problem." According to the plan unveiled over the weekend, the scheme would be boosted from next year.
  • Henryk Wnorowski belongs to the dovish-leaning faction in the Monetary Policy Council, which holds a comfortable majority and has consistently voted for holding interest rates steady over the past months.
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