Jan Krzysztof Bielecki, former prime minister and former chairman of the Economic Council to Prime Minister Donald Tusk, spoke about the causes of high inflation in Poland in “Fakty po Faktach”. – We are discussing mainly the subject that Putin is actually the only cause of inflation. If Putin is the only cause of inflation, then I would be very careful or not touch interest rates at all, he said.
The Central Statistical Office (GUS) announced on Friday that inflation in June was 15.5 percent. Former Prime Minister Jan Krzysztof Bielecki, when asked in “Fakty po Faktach” why it was still growing and not falling, pointed to three main factors. – Our inner, outer plus war. This makes it difficult. The question is why it is the most difficult for us – he added.
When asked if raising interest rates was ineffective, he said it was a risky business. – Here, the discussion is focused mainly on the subject that Putin is actually the only cause of inflation, there are even such nice terms (putinflation-ed.). If Putin is the only cause of inflation, I would be very careful or not touch interest rates at all, Bielecki said.
He noted that “we move the feet first of all, because there are internal reasons”. – Anyway, we see it in the so-called core inflation that it has also reached a quite high level – said the TVN24 guest.
The Monetary Policy Council during the July meeting raised interest rates by 50 basis points. The main benchmark interest rate rose to 6.50 percent. This is the highest level since August 2004.
Main photo source: TVN24