The Marshal of the Sejm and the third way candidate for the President of the Republic of Poland Szymon Hołownia appealed to the president of the National Bank of Polish Adam Glapiński to reduce interest rates. As he wrote, Poles should not pay higher interest for loans than Czech or Germany citizens.
“Poland is a European champion of expensive loans. There is no reason today for a Pole to pay more for a loan than the Czech Republic or Germany. I turned to the president of the NBP Adam Glapiński with a request to reduce interest rates” – wrote Hołownia on Platform X, attaching a scan to the head of the central bank.
Interest rates. Szymon Hołownia calls
The letter reads that having regard to the situation of business participants, in particular Polish borrowers, incurring high costs of repaid loans, “I am asking the President as the chairman of the Monetary Policy Council, asking to consider reducing the interest rates of the National Bank of Poland.” “In Europe, a clear trend of monetary policy soothing by central banks can be indicated. For example, in the Czech Republic the interest rates were set at the level as at the beginning of 2022, i.e. at the lowest level in the last three years. Meanwhile, in Poland interest rates are still 3 percentage points above the level from the beginning of 2022.” – we read in the letter. Hołownia added that the macroeconomic and international context provides evidence that the debate on relieving restrictive monetary policy is also necessary in our country.
“The National Bank of Poland, in accordance with Article 227 of the Polish Constitution, is responsible for determining and implementing monetary policy. I do not doubt that by performing constitutional tasks, the NBP is guided by data flowing from the economy, which is the result of demand and supply. – assessed the Speaker of the Sejm. He also expressed the belief that interest rate reduction This is an important impulse for the entire Polish economy, because – in his opinion – it can create a space for investment, new jobs and increasing demand. “For this reason, I hope that the National Bank of Poland, in particular the Monetary Policy Council, in the decisions taken, takes into account the pace of economic recovery and the costs of life currently borne by the citizens of the Commonwealth” – wrote Hołownia. Currently, the main NBP rate, reference, is 5.75 percent.
MEP members with interest rates
The member of the MPC Iwona Duda assessed a few days ago that if the interest rate discounts were to appear in 2025 at all, it would not be a space for this until the end of the year, and the scale of politics soothing would be small. – Please note that even in our region some central banks from Central and Eastern Europe after slowing down the inheritance inflation They abstain with further foot reductions or even correct the feet up. In Poland, we would not like to increase interest rates, so we must keep them at the current level for longer to bring inflation to such a trajectory, so that we are sure that it will be shaped in a lasting inheritance trend and heads to the inflation target in the medium period – then you will be able to think about reductions – said Duda in an interview with PAP Biznes.
Another member of the MPs Ludwik Kotecki, quoted by “Puls Biznesu”, said a few days ago that in his opinion, interest rates will take place at the beginning of the third quarter, at the latest in September.
– In my opinion, this will happen this year, although President Adam Glapiński is now eating from it. This will happen at the beginning of the third quarter, at the latest in September. In my opinion, the scale of reductions is a minimum of 50 base points, because there is space for it. It could be 100 points, but it can be difficult this year – Kotecki quoted by “PB”.
Source of the main photo: Radek Pietruszka/PAP