– In my opinion there will be another cutting of interest rates – said a member of the Monetary Policy Council Przemysław Litwiniuk in “Facts after Facts” on TVN24. As he assessed, the reference rate level may drop to 4.5 percent this year.
“In my opinion, the answer is: yes, it will be,” said Litwiniuk on TVN24, asked if there would be another percentage cutting. Asked when the MPC can make such a decision, he replied that “this is a more complex issue.”
A moment for “a solid step towards lowering the feet”
As he said, if the matter of the currently frozen one was clarified electricity prices For households and there will be no external circumstance that would disturb the inflation perspectives, “this fall this year can be a good time for a solid step towards lowering interest rates”.
When asked what “solid” means, a member of the MPC replied that “at least” as in the case of the last decision (reduction by 50 base points – ed.).
– The overall correction of interest rates in 2025 can close the sum of 125 base points – estimates Przemysław Litwiniuk.
During the conversation on TVN24, he also stated that “there are voices, that maybe July will be such a moment (lowering feet – ed.)” Because of the publication by the central bank of the next projection inflation. – I think that corrections should be made in more knowledge – added a member of the MPC.
“Stories of Mr. Glapiński”
Przemysław Litwiniuk was also asked about the statement of the NBP President Adam Glapiński regarding the lobbying of developers regarding the reduction of interest rates. He stated that they were “only the stories of President Glapiński”.
– I think this is a way of interpreting phenomena that have happened somewhere in public space. Various types of speeches, whether politicians or other people who comment on the economy. And so it was the president, Professor Glapiński interpreted – said the guest of TVN24.
– I can't fully share this interpretation, I don't feel pressed by anyone. Neither by government factors nor by stakeholders from the world of economy. I think that everyone understands that the economy with low inflation is a safer economy that promotes stable development and avoids shaping unevenness, which are harmful in the long run – emphasized Litwiniuk.
Przemysław Litwiniuk in “Facts after facts”Tvn24
The advice is cutting your feet
The Monetary Policy Council (RPP) at the meeting ended on Wednesday NBP interest rates by 50 base points. The reference rate dropped from 5.75 percent. up to 5.25 percent
The previous level of interest rates has been maintained since October 2023.
“Given the information coming in, including lower current and forecast inflation, departing wage dynamics and weaker conjunction data, in the Council's opinion it became justified to adjust the level of NBP interest rates” – wrote the MPP in a press release after the May meeting.
The President of the NBP comments
During the Thursday speech, NBP President Adam Glapiński announced that it is doubtful that the Monetary Policy Council would reduce interest rates in June. He reported that the position of the majority of the MPC indicates that autumn is crucial for the feet.
Glapiński also said that adaptation of interest rates does not mean the beginning of the cycle and nothing is decided. He also assessed that from the statements of the MPP members it can be taken that if the council decided to further lower the feet, whether in July or in autumn, most would be behind the cycle.
The President of the NBP estimated that MPP members were under pressure from developers and borrowers to lower interest rates. He emphasized, however, that she came primarily from the developers who expected the government of the borrowers' government support program, but this did not happen.
Interest rates in Poland and EuropePAP/Michał Czernek
Source of the main photo: Tvn24