Finance Ministry: no need for breaking off monetary easing cycle
February 8, 2013
Poland should carry on with the monetary easing cycle, deputy Finance Minister Wojciech Kowalczyk told reporters following Wednesday sitting of the rate council.
"We see no need for breaking off the cycle of interest rate cuts," Kowalczyk said.
In its Wednesday statement the Monetary Policy Council, after delivering its fourth consecutive 25 bps cut to official interest rates, removed its easing bias from the statement and replaced it with a phrase that further decisions will depend on inflowing information, including the next inflation projection. At the news briefing following the sitting NBP President Marek Belka toned down the statement claiming it did not imply a shift in bias.