Tyrowicz has previously called for more rate rises to curb inflation but did not say how she voted at last week's policy meeting when Poland's central bank left its main interest rate unchanged at 6.75%. The bank remained in a wait-and-see mode as it assesses the damage to the economy caused by the war in Ukraine. "There were several mistakes, the rate level itself is one of them, the communication on this matter is the second one, the course of the (central bank) governor's conferences is of course the third one," Tyrowicz said when asked by TVN24 if keeping the rate at 6.75% was a mistake. Tyrowicz was appointed to the central bank's Monetary Policy Council last September by the opposition-dominated Senate. Central Bank Governor Adam Glapinski said after last Wednesday's rate decision that the bank viewed the current level of interest rates as appropriate and while inflation in Poland should start slowing sharply after the first quarter, it was still too early to talk about rate cuts. (Reporting by Anna Koper; Editing by Himani Sarkar and Susan Fenton)
Messaging: anna.koper.reuters.com@thomsonreuters.com)) (Adds quote, background)
WARSAW, Feb 13 (Reuters) - Keeping interest rates at
current levels is a "mistake", Polish central banker Joanna
Tyrowicz said on Monday, adding that hikes would not be enough
to bring inflation down to target as better communication to
curb inflation expectations is also crucial.
"The level of interest rates itself is now of secondary
importance as inflation has gained momentum ... just changing
the interest rate is not enough to move the balance of our
economy towards lower core inflation," Tyrowicz told broadcaster
TVN24.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.