Central bank governor Adam Glapinski is an ally of the ruling Law and Justice party.
The rate cut announcement by Poland’s central bank governor Adam Glapinski sent the zloty down by as much as 2% yesterday.
However, economists have said that with inflation still in double digits, lowering the main interest rate to 6% risks entrenching high price growth. A narrow majority of analysts polled by Reuters had expected a 25-basis-point cut. “Why should we kid ourselves when we all know why they waited so long and now they’ve really gone all in on interest rates…We have no doubt today that Glapiński is fully involved in politics and elections.”
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