I’m pretty sure that the Monetary Policy Council is already actively working to lower interest rates in order to raise them after the elections, former Deputy Prime Minister and Finance Minister Jacek Rostowski told Gazeta.pl.
On Monday, a two-day meeting of the Monetary Policy Council (MPC) began, during which a decision on interest rates will be made. According to most experts, a change in rates is unlikely. If these predictions come true, MPC will decide to leave interest rates unchanged for the ninth consecutive time.
Interest rate cut before elections?
Discussions on the possibility of lowering the interest rate this year have been going on for several months. Monetary Policy Council (RPP) member Gabriela Maslowska admitted in a recent article for Radio Maryja that there is a chance for this. — The expected, in the future quite probable, decrease in inflationary pressure opens the way to increasingly tense discussions about the need to lower interest rates. Generally speaking, I think that the probability of starting a phase of interest rate cuts in Poland this year is getting higher – Maslovskaya wrote.
According to Jacek Rostowski, Deputy Prime Minister and Finance Minister in Donald Tusk’s government, the MPC will lower interest rates before the parliamentary elections (probably in October) to raise them after the elections. — I’m pretty sure the Monetary Policy Board is already actively working to lower interest rates to raise them after the election — the former head of the Ministry of Finance told Morning Rozmowy Gazeta.pl.
Asked if the MPC could politically cut interest rates ahead of the election, Rostovsky answered briefly, “Yes.”
Source: Wprost
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