WARSAW, July 10 (Reuters) – It is too early to say whether interest rates should be cut in September, Polish central banker Henryk Wnorowski, said on Friday.
The central bank’s governor, Adam Glapinski, said on Thursday he could propose a 25-basis-point interest rate cut after the summer, but added that other Monetary Policy Council members could prove more cautious about further monetary easing.
“Today’s discussion about such a motion is purely academic. Of course, we can speculate, but even yesterday’s statement by the governor contained many reservations and assumptions: if, if, if,” Wnorowski said in an interview with Biznes 24 television.
“By September, these few ‘ifs’ may not come true; others may emerge. I believe this is a premature signal. As of today, I see a huge problem with supporting such a motion.”
Wnorowski, who is on the National Bank of Poland’s monetary policy committee, added that if there was room for an interest rate cut this year, there would likely be no more than one.
The bank left its main interest rate at 3.75% on Wednesday for the fourth month in a row.
(Reporting by Anna Koper and Pawel Florkiewicz; editing by Philippa Fletcher)
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