Reuters logo
Poland's Belka says independence not under threat:radio
October 31, 2015 / 10:38 AM / 2 years ago

Poland's Belka says independence not under threat:radio

WARSAW, Oct 31 (Reuters) - The Polish central bank’s independence is not under threat, governor Marek Belka said, amid concerns about the policies of the Law and Justice (PiS) party which scored a stunning election victory on Sunday.

Parliament, where PiS will have a majority, will appoint six out of 10 rate-setters early in 2016 and PiS-backed president, Andrzej Duda, will appoint two more around the same time. Duda will also nominate a central bank head by June 2016.

PiS has said it wants the central bank to pump 350 billion zlotys ($91 billion) into the economy over six years to support economic growth, a plan that rattled financial markets in election week and drove the zloty to a nine-month low against the euro.

Earlier this month, one of the party’s lawmakers also said PiS would take into account candidates’ propensity to ease monetary policy when deciding on the new central bankers. This drew a strong protest from three current rate-setters.

Asked by private radio station RMF in an interview aired on Saturday if the central bank’s independence was being threatened by anyone or anything, Belka said: “I don’t think it is under threat.” (Reporting by Wiktor Szary; Editing by Toby Chopra)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below