Finance Minister calls for further rate cuts
January 11, 2013
Finance Minister Jacek Rostowski hopes Polish rate council will reduce interest rates further after cutting rates by 25 bps on Wednesday and believes that ending the easing cycle now would be a "serious mistake" with negative consequences for the labor market, Rostowski wrote in a statement.
"I am pleased with MPC yesterday's decision," Rostowski wrote. "I am counting on further rate cuts in the coming months."
"Ending the rate cut round by the council at the current stage would be a serious mistake and would have negative impact on, among others, unemployment increase," Rostowski said.
Poland's Monetary Policy Council offered its third consecutive 25 bps cut to official interest rates on Wednesday, as expected, but surprised markets by announcing that monetary easing may be coming to an end.