Kotecki: The Monetary Policy Council may not return to cutting rates, but there is no need to increase them

The Monetary Policy Council may not return to reducing interest rates at all, but for now there is no room for them to be necessary – said Ludwik Kotecki, MPC member, in an interview for “Puls Biznesu”. As he pointed out, the “wait and see” strategy is currently the best.

“The discussion on further reduction of interest rates is over for now. And for how long depends on the duration of the conflict and the persistence of uncertainty about oil prices and their impact on Polish inflation,” Kotecki said.

The wait and see strategy is the best today. We will simply wait, observe and react at the appropriate moment. It won't be April yet, probably not even May yet. Maybe we won't go back to rate cuts at all, but for now I don't see any room for any need to increase rates, he added.

In March, the Monetary Policy Council reduced all NBP interest rates by 25 basis points, including the reference rate to 3.75%. (PAP Business)

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