In the last two years, or even in a longer period, the National Bank of Poland has repeatedly shown that it ignores inflation or the threat of inflation – said Miłosz Wiatrowski in “Yes,” (“Gazeta Wyborcza”). Ryszard Petru (Institute of Liberal Thought) said that the prime minister and the president of the National Bank of Poland “believed that they could do anything and their self-confidence lost them”.
The historian Miłosz Wiatrowski from “Gazeta Wyborcza” and the founder of Nowoczesna, economist Ryszard Petru from the think tank Instytut Myśli Liberalnej discussed the economic situation in Poland in “Tak jest” on TVN24.
– Countries with a bad economic policy end up badly with all the rules of the economy. For example, I am terrified that the Polish government is moving towards what is happening in Turkey. There, the central bank (…) operates under the dictation of the government, inflation it has long exceeded 70 percent, estimated Petru.
He also said that in his opinion “the problem is two gentlemen, that is Mr. (Prime Minister, Mateusz – editor) Morawiecki and Mr. (NBP president, Adam – editor) Glapiński”. – Morawiecki has no idea about the economy, contrary to appearances. He was the president of a bank, but he managed the bank, not the economy. He does not understand macroeconomics, he does not understand certain dependencies – argued the guest “Yes, sir”.
According to him, Glapiński “has the impression that he can do anything because of his closeness to Jarek Kaczyński.” “These two gentlemen believed they could do anything, and I think their self-confidence lost them,” said Petru.
Wiatrowski: The NBP has repeatedly shown that it is ignoring the inflation threat
Wiatrowski assessed that “politics PiSespecially the policy of the National Bank of Poland, contributes greatly to inflation. ”
“I am not convinced that it is a matter of printing money,” he admitted. He said that if you look at the policy of the American or European central bank of the last decade, “the increase in money in circulation was enormous and it did not translate into inflation.”
The guest of TVN24 indicated that “the main task of central banks is to convince all of us (…) that the situation is under control”. – Narodowy Bank Polski in the last two (editorial years) or even in a longer period has repeatedly shown that it ignores inflation or the threat of inflation. President Gapiński tries to surprise the markets many times. He says one day there will be no lifting interest rates(that) it would be a school mistake, the next day he raises these rates. This is the worst that can be done in the fight against inflation – said Wiatrowski.
Main photo source: TVN24