It looks like the first Clearly, the incentive for higher inflation will diminish. (…) Economic growth in the second quarter was obviously more than 5% year on year, but the quarterly decline was 2.3%. This shows that the economy is already slowing in various places. Dramatic collapse in mortgage interest. (…) The situation (…) does not leave much freedom for the MPC to make decisions. I think that, of course, the Poles will have to account for some price hikes. Some say, I mean the effects of the next decision-making meeting at the beginning of September, maybe even in October. It looks like the end of the interest rate cycle that has been going on since October 2021 is now approaching– said Henrik Wonovsky, MPC member of Radio Marija, his words were quoted by PAP Biznes.
Wunovsky also gave his inflation forecast. “I suspect When it comes to August, we should expect that reading to be, say, at the level of the July reading, somewhere around 15.6 percent, maybe 15.7 percent. (…]Food and Crude Oil – In my opinion, this will lead to a slight decrease in inflation from September, but it is far from complete happiness“- He said.
Recently, another MPC member, Przemysław Litwiniuk, also commented on a possible rate hike. When asked if there is still room in Poland to raise interest rates, “Yes, unfortunately,” he said on Radio Talk FMN in his opinion.
The next decision-making meeting of the Monetary Policy Committee is scheduled for September 7. On August 23, the Council meets in a meeting without a resolution.
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