Polish central banker Joanna Tyrowicz urged restrictive monetary policy until net inflation and wages meet the goal.
Tyrowicz told PAP that the central bank had failed until net inflation and wages reached the inflation aim.
“Elementary responsibility demands constrained monetary policy.”
Ludwik Kotecki, another limited MPC member, said a rate increase would demonstrate the Council was still worried about price spikes.
“Even a slight hike (in interest rates) would suggest that the cycle of monetary policy tightening has not completed,” Kotecki said in a Wednesday interview with Dziennik Gazeta Prawna.
“We still worry that the price rise is too substantial and the expected fall in inflation is too gradual,” he added.
In March, Kotecki predicts 15%–16% inflation.
Governor Adam Glapinski has said future raises are unlikely. Therefore, markets have concentrated on rate decreases.
Poland’s MPC meets April 4–5.
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