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Polish central banker says there are reasons to cut interest rates

Published 08/31/2023, 03:17 PM
Updated 08/31/2023, 03:21 PM
© Reuters. FILE PHOTO: A logo of the National Bank of Poland NBP (Polish Central Bank) is seen on their building in Warsaw, Poland, September 8, 2022. REUTERS/Kacper Pempel/File Photo
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WARSAW (Reuters) - If the downward trend in inflation continues and other macroeconomic factors do not change radically, there are reasons to discuss lowering interest rates, Polish central banker Gabriela Maslowska was quoted as saying on Thursday evening.

Poland's main interest rate has been on hold at 6.75% since September 2022. In August, inflation slowed to 10.1% from 10.8% a month earlier.

"...We have had a downward (inflation) trend, quite persistent, for many months. Nothing seems to stop this downward trend...", Maslowska was quoted as saying by state-run news agency PAP.

"In my opinion, there are reasons to lower interest rates. If at the MPC (Monetary Policy Council) meeting in September, there was a motion to cut interest rates, I would vote for it", she added.

© Reuters. FILE PHOTO: A logo of the National Bank of Poland NBP (Polish Central Bank) is seen on their building in Warsaw, Poland, September 8, 2022. REUTERS/Kacper Pempel/File Photo

Earlier on Thursday another central banker, Henryk Wnorowski, said that Poland was heading towards its first interest rate cut, but it was too early to say if it would be in September or October.

The National Bank of Poland (NBP) will announce its interest rate decision on Sept 6.

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