Monetary Policy Council should cut Poland’s main referential interest rate by 100 bps to end-2013, with the first rate cut more radical, council member Elzbieta Chojna-Duch told TVN CNBC broadcaster.

Inflation outlook also provides arguments to ease the monetary policy, with inflation dropping to the 2.5% NBP target in April 2013.

Poland's rate council last moved its interest rates in May with a surprise hike by 25 bps, which the council explained as an attempt to keep real interest rates positive.

Another rate council member Adam Glapinski would be ready to support an interest rate cut at the November sitting if the new inflation projection confirms that a serious economic slowdown is approaching and that inflation is safely headed for the target, Glapinski told PAP in an interview.

Monetary Policy Council member Jan Winiecki told broadcaster TVN CNBC on Monday that the council should proceed to rate cuts only if incoming data show that hopes for GDP growth stabilization at or near 2% are futile and still slower growth is in the cards.