June 5, 2019 / 3:08 PM / 3 months ago

Polish c.bank: no need to raise rates, despite faster CPI growth

WARSAW, June 5 (Reuters) - Poland’s central bank kept its benchmark interest rate unchanged at 1.5% on Wednesday and its governor Adam Glapinski reiterated that there may be no need to change rates until 2022, despite the expected acceleration in inflation this year.

Glapinski told a news conference that economic growth may exceed 4.5% this year, while inflation could accelerate to around 3.0% towards the end of 2019 before slowing down next year.

“There is no need for rate hikes, there is no need for rate cuts. It may happen that the council will not change rates until the end of its term,” Glapinski said.

Reporting by Alicja Ptak and Pawel Florkiewicz; Writing by Marcin Goclowski; Editing by Agnieszka Barteczko

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