Euro in Poland? Domański: I see more and more benefits from having my own currency

The government is not working on introducing the euro in Poland, Andrzej Domański, Minister of Finance and Economy, declared on Sunday. He also noted that inflation had dropped, although in his opinion the first decisions of the Monetary Policy Council were late.

On Sunday, on Polsat News, Domański was asked about whether there are plans to introduce the euro in Poland. – Our government is not planning or working on the implementation of the euro in Poland – assured the Minister of Finance. He also assessed that having Poland's own currency in times of global crises and slowdowns is a “stabilizer”.

The events of recent years clearly show that the zloty is showing its strength and resilience. During our rule, the zloty has significantly strengthened – he noted.

He also pointed out that in the EU treaties, Poland is obliged to adopt the common EU currency. – I see – and actually quarter by quarter – more and more of these benefits from having my own currency (…) Of course, there are also arguments for joining the euro zone. In my opinion – in the opinion of an economist now, not a politician – the arguments for staying with the zloty, our national currency, are definitely stronger – emphasized Domański.

Minister of Finance he also expressed satisfaction that the Monetary Policy Council reduced the interest rates of the National Bank of Polandwhich – as he pointed out – translates into lower loan servicing costs. – To the Monetary Policy Council's credit, inflation has obviously dropped. It also – let us remember – remained at these high levels for a very, very long time – he said.

At the same time, he assessed that at the first moment, when inflation was rising, “the reaction (of the Monetary Policy Council) was late.” When asked whether interest rates should continue to fall, he replied that he would not advise the Monetary Policy Council, as it was an independent body. – I will say this: analysts still see room to reduce interest rates in Poland by at least 50 basis points (in 2026 – PAP) – he added.

This year, the Monetary Policy Council reduced interest rates by a total of 175 basis points. After the last meeting in December, the NBP reference rate was 4%. (PAP)

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