For the time being, we should by no means be tied to such scenarios, said Ludwik Kotecki, a member of the Monetary Policy Council (RPP), in an interview with Polsat News, referring to a possible interest rate cut. In his opinion, interest rates are unlikely to change in the coming months.
Ludwik Kotecki, a member of the Monetary Policy Council (MPC), was a guest of the Gość events program on Polsat News on Friday, and the conversation turned to the topic of MPC’s future interest rate decisions.
Will MPC start cutting interest rates?
– Our decisions follow not only from the prices themselves and from the point of view of their formation. Also from economic growth, the labor market, wage growth, what is happening abroad, what is happening in monetary policy - explained Kotetsky in an interview with Peter Vitvitsky.
Referring to the fact that the market began to believe that the Monetary Policy Council may soon begin to cut interest rates, Kotetsky replied: “For the time being, we should by no means become attached to such scenarios.
According to the MPC member, “interest rates will not change in the coming months.” According to Kotecki, “the problem of inflation will stay with us longer than some predict.” The Polsat News guest noted that the third quarter of last year was weak for the Polish economy, and the last quarter of 2022 “may be even weaker.” The slowdown could culminate in the first quarter of this year, Kotecki said.
Will inflation exceed 20%?
When asked if inflation could exceed 20 percent in January and February, Kotetsky replied: “Quite likely.” - Unfortunately, January and February - especially January - is the time when regulated, administrative prices rise at this time, formed differently than on the market. We will see the result - - explained the member of the IPC.
Source: Wprost
