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Interest rates still frozen
   
Eryk Lon
Poland's rate council should most likely keep interest rates stable until the end of the year, given developments in the US as well as moderate inflation at home, Monetary Policy Council member Eryk Lon wrote in a comment for PAP.
". . . I do not exclude that my filing a motion for a rate cut will not be needed this year," Lon said. "It will be probably enough to keep interest rates at the current level."
Reasons behind rates' stability include the "presidential cycle" in the US, which assumes monetary easing in a pre-election year and likely continuation of bull market in the US, Lon enumerated.
Also, moderate level of inflation in Poland speaks in favor of keeping rates stable, he added.
"There are even more reasons to keep rates [stable] by the NBP and they stem not only from the events in the US economy,' he said. "Inflation in our country remains at a relatively moderate level and the level of base inflation is particularly low."