Polish cbank head: rates to depend on economy -paper

Published 03/28/2011, 01:37 AM
Updated 03/28/2011, 01:40 AM

March 28 (Reuters) - WARSAW, March 28 (Reuters) - Poland's central bank will continue to raise interest rates, but the pace of further moves will depend on the state of the economy as inflation remains under control, its head was quoted as saying in a newspaper.

Governor Marek Belka also said in an interview published on Monday that the central bank should not seek to influence the level of the Polish zloty, but did not rule out future interventions on the markets.

"This (should not be) to defend a particular level," Belka told Gazeta Wyborcza. "There is no such thing as a range within which NBP (National Bank of Poland) wants the zloty to be in and we don't plan to use interventions in such a way." (Reporting by Chris Borowski; Editing by Richard Borsuk)

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