April 27, 2020 / 12:56 PM / a month ago

Polish rate-setter expects rates hike in several months

WARSAW, April 27 (Reuters) - Polish interest rates could be hiked within several months, Jerzy Kropiwnicki, a member of the central bank’s rate-setting panel, the Monetary Policy Council, said on Monday.

“The central bank’s task will be to provide funds to finance the deficit - using ‘conventional’ and ‘unconventional’ measures. The MPC will be responsible for fighting against the inflation,” he said in a blog post.

“One should expect a decision to raise interest rates and the minimum reserve requirement - at least to past or recent levels. Maybe not immediately - but also without undue delay, in a few months,” he added.

Poland cut its main interest rate to 0.5% this month to counteract the negative effects of the novel coronavirus pandemic on the economy. (Reporting by Marcin Goclowski and Pawel Florkiewicz, Editing by Joanna Plucinska)

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