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The Warsaw Voice » Business » March 14, 2018
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Rate hikes in 2018 not fully ruled out?
March 14, 2018   
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Poland's Monetary Policy Council may yet decide to hike interest rates in 2018 and the rate council will have to monitor inflation, core inflation, labor market as well as the European Central Bank (ECB) , rate setter Lukasz Hardt told radio broadcaster TOK FM.
Asked if rate council could hike rates still this year, Hardt said it depends "on what happens to inflation globally, but first of all what happens with domestic inflation, core inflation and the labor market."
Domestic risks for inflation include potential boom in investments and growing wage demands in the public sector.
"If wages in the public sector start growing at a faster pace, then we can have an early signal that we might have transmission from wages to inflation," Hardt said.
Still, rate hikes are not needed at this very moment, and their likelihood seems lower than some months ago, the rate setter declared.
Further down the road, the rate council will look for cues from the ECB. However, Hardt explained, "its hands aren't tied" by what is done in Frankfurt, and the council should react to domestic trends even if the ECB does not make any moves, Hardt suggested.
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