Polish interest rates likely to stay put until 2022: central bank chief

Poland’s interest rates are likely to stay intact until at least 2022, the country’s central bank chief said on Thursday.

Poland's central bank chief Adam Glapiński. Picture: nbp.pl

Poland’s central bank chief Adam Glapiński. Picture: nbp.pl

Adam Glapiński, head of the National Bank of Poland (NBP), told a banking conference that interest rates in the country were stable and that, in view of the latest forecasts, there appeared to be no reason for them to change until the current team of rate setters end their term in 2022.

Glapiński was speaking during the 25th Banking Forum conference in Warsaw, public broadcaster Polish Radio’s IAR news agency reported.

The Polish central bank’s Monetary Policy Council last week left interest rates unchanged.

The reference rate in Poland remains at 1.50 percent.

The last time the rate-setting Monetary Policy Council changed interest rates was in March 2015.

At the time, after trimming rates by 50 basis points, the council said the move was “closing a cycle of monetary policy easing.”

(gs)

Source: IAR

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