* For statement double click on tinyurl.com/zh5skql
WARSAW Jan 11 Following are comments by Polish
central bank governor Adam Glapinski delivered on Wednesday
after the bank left its benchmark interest rate unchanged at a
record low of 1.50 percent.
The central bank's statement after the decision is available
I absolutely see no such reason (to change rates in 2017).
Inflation will slowly rise in my opinion ... and rates will
remain constant ... encouraging development. Once this
development happens, then the time for interest rate increases
will come, but not this year.
I think that if this economic growth lasts, and this growth
accelerates, then 2018 (will be the right time for raising
Everything suggests that we will touch the lower range of
the band this year, but I don't think that we will touch the
target itself this year.
ON POLITICAL CRISIS
We are at a level where politics affects the economy only
slightly ... investors know the specifics of Poland's
(situation), and they know that politics have no impact on
As far as investment is concerned, the investments' decline
is connected almost entirely with the delay of the
implementation of the EU funds, which happens not only here, but
also in other countries in the region.
It is hard to say ... whether investments will start to rise
massively in the second or third quarter. Potential GDP growth
amounts to about 3.5 percent, and we want to have this 3.5
percent fully satisfied, to catch up with the level of economic
development of Western European countries.
The issue of (imposing additional tax on banks with huge
Swiss franc credit portfolios) has appeared, but I reject it. We
think one should not impose an additional burden.
Poland has a major stake in Polish banks now. This is really
a great success, and this will be enough, I think, this 55
percent share (of locally controlled banks in the banking
sector) is sufficient.
Eventually, these banks should be fully private, in Polish
(Reporting by Marcin Goclowski; Editing by Louise Ireland)