Poland could start hiking interest rates after summer - rate setter
December 16, 2013
Poland is likely to start raising interest rates after the summer holidays of 2014, rate setter Andrzej Bratkowski told broadcaster TVN CNBC.
Bratkowski expects the launch of the tightening cycle in Q3 or Q4 2014, "more likely sooner than later," he said. "I think that rate hike is more likely when children go back to school. As for H1 we are almost sure that nothing will happen."
Poland has no need for any "nervous moves," Bratkowski said when asked about the possibility of rate cuts in the light of the lower-than-expected November CPI.
"Cuts would be a bad signal for the market as they would indicate that we don't expect a recovery," he said.
The rate setter expects inflation to return to the Monetary Policy Council's target in a few quarters, he said.