After the publication of GDP growth data for the second quarter of 2012, the need for considering lower interest rates has become even more pressing, Monetary Policy Council member Elzbieta Chojna-Duch told PAP Polish news agency on Thursday.

"The economic slowdown is apparent and is the effect mostly of stagnation in the euro zone," Chojna-Duch said. "More and more this needs to be taken into consideration in our analyses and discussions."

"Currently, even more than in July, a discussion of a rate cut or rate cuts would be justified," she said.

Comments follow publication of a below-expectation GDP growth reading for Q2. The Polish economy expanded at an annual rate of 2.4% as domestic demand even showed a slight contraction. the PAP consensus survey had showed expectations for 2.9% annual GDP growth.