Monetary policy in Poland should stay restrictive, say MPC members
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- 30 Mar 2023
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Polish central banker Joanna Tyrowicz said monetary policy should remain restrictive until net inflation and wages converge to levels consistent with the inflation target.
"As long as net inflation and wages start to approach levels compatible with the inflation target, one cannot say that the central bank has done its job," Tyrowicz told the PAP news agency.
"Elementary responsibility calls for conducting restrictive monetary policy under such conditions."
Ludwik Kotecki, another member of the Monetary Policy Council (MPC) perceived as a supporter of restrictive monetary policy, said a rate hike would be a signal that the Council was still worried about price increases.
"Even a small increase (in interest rates) would confirm that the cycle of monetary policy tightening has not ended," Kotecki said in an interview published on Wednesday in the newspaper Dziennik Gazeta Prawna. Read More…
