Polish rate-setter expects rates hike in several months

Polish interest rates could be hiked within several months, Jerzy Kropiwnicki, a member of the central bank's rate-setting panel, the Monetary Policy Council, said on Monday. "The central bank's task will be to provide funds to finance the deficit - using 'conventional' and 'unconventional' measures. The MPC will be responsible for fighting against the inflation," he said in a blog post.

"One should expect a decision to raise interest rates and the minimum reserve requirement - at least to past or recent levels. Maybe not immediately - but also without undue delay, in a few months," he added. Poland cut its main interest rate to 0.5% this month to counteract the negative effects of the novel coronavirus pandemic on the economy.