Central bank may cut interest rates still this year says PM
Mateusz Morawiecki, the Prime Minister of Poland, has expressed the possibility of a reduction in interest rates by the central bank before the conclusion of this year.
Morawiecki stated that unless there are truly exceptional circumstances, such as another major energy crisis, inflation is expected to decrease by the end of the year. He further expressed optimism about the potential for interest rate cuts in the fourth quarter of this year.
The Central Statistical Office (GUS) released a report on Monday indicating that consumer prices for goods and services, as measured by the Consumer Price Index (CPI), have settled at a rate of 14.7 percent year on year and increased by 0.7 percent on a monthly basis.
During the May session of the Monetary Policy Council (RPP), which serves as the rate-setting body for the Polish central bank, the reference interest rate remained unchanged at 6.75 percent. This decision marks the eighth consecutive time that the rate has remained stable, following a series of 11 successive increases implemented to combat inflation.
