Polish central bank's Owsiak says MPC doesn't have to raise rates in August |
|
|
|
Published
:
Tue, 21 Aug 2007 07:22
|
WARSAW (Thomson Financial) - The Polish rate-setting Monetary Policy Council (MPC) could still wait to hike rates at its August meeting, as July data are not alarming and inflation could fall this month, said MPC member Stanislaw Owsiak.'Data published in August, especially concerning inflation and industrial output for July, are in line with expectations,' Owsiak, a dovish member on the 10-strong rate-setting council, told Thomson Financial News.'We have to keep our eye on the pace of wage growth, but for the time being those data do not create an alarming picture about the inflationary pressure.'The central bank has raised the borrowing costs twice this year, in April and June, to 4.5 pct and analysts expect further increases despite inflation hovering below the bank's 2.5 pct target.'We can expect inflation to fall in August. In my opinion a rate hike is not to be excluded, but the council can still wait with such a decision. MPC also has to observe the situation on the global markets.'pawel.sobczak@thomson.com +48 22 447 2430ps2/ejbCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
|
|
|
|
Print this Story
Polish central bank head says inflation unlikely to top 3.5 pct in 2 yrs UPDATE 