The Warsaw Voice » Business » News - January 31, 2018
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National Bank's head on economy
Adam Glapinski
The Polish government is unlikely to hike rates this year, and rate stability could persist even to mid-2019, but the rate council will not hesitate to hike rates earlier if situation changes, for example if ECB starts hiking interest rates, NBP head Adam Glapinski told daily Dziennik Gazeta Prawna in an interview. Apart from ECB rate hikes, his watch list includes the situation on the labor market and core inflation. According to Glapinski, Poland's GDP growth will likely decelerate somewhat in 2018 from some 5% growth in Q4 2017, but the pace will still be good and closer to the natural pace of growth, which guards Poland against arising imbalances.
Polish employers face only moderate problems with hiring now, but the situation will likely worsen within several years, Glapinski said. Still, unit labor cost growth is low and while it will likely accelerate, it should not reach levels raising concerns, he added.