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Wednesday, February 21, 2024

High inflation and rising interest rates. Economist Bogusław Grabowski on the economic situation and activities in power

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Former member of the Monetary Policy Council, economist Bogusław Grabowski in “Rozmowa Piasecki” spoke about the economic situation in the country in the face of high inflation and another MPC decision to raise interest rates. As he assessed, “the worst is ahead of us, hard times, a much worse situation than before, for everyone – both for savers and for borrowers.”

The guest of Konrad Piasecki on TVN24 on Monday was Dr. Bogusław Grabowski – economist, former member of the Monetary Policy Council.

He was asked if, when it comes to inflation, interest rates, economy, unemployment, the worst is behind us. – No, the worst is ahead, hard times, a much worse situation than before, for everyone: and for savers, because they will lose money even faster, especially when they convert into foreign currencies, and for borrowers, because they will have even higher interest rates and persistently high inflation he replied.

Asked whether this difficult situation would bypass any group, Grabowski replied that the current government, i.e. – as he mentioned – the NBP president, prime minister and president PIS “They are well aware that fighting inflation would impose costs”, hence, in his opinion, “they chose this strategy: we are not seriously fighting inflation until the election”. – But they do not realize that they will find themselves in an absolutely total trap the zloty exchange rate – he noticed.

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In the program, Grabowski assessed that the president of the NBP, Adam Glapiński, “is a very poor economist who meets the needs of the government.”

Bogusław Grabowski in “Piasecki’s Conversation”TVN24

Main photo source: PAP / Tomasz Gzell

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