Poland's presidential hopeful urges central bank to cut interest rates
Karol Nawrocki, a presidential candidate supported by the main opposition party, the socially-conservative Law and Justice (PiS), has called on Poland's Monetary Policy Council (RPP) to reduce interest rates.
In a video published on the X platform on Tuesday, Nawrocki said that thanks to such a decision, "millions of borrowers will breathe a sigh of relief."
Earlier, Nawrocki's primary opponent, Rafal Trzaskowski from the main ruling coalition grouping, the centrist Civic Coalition, as well as Szymon Holownia, the centre-right Third Way candidate, said they have appealed for interest rate cuts several times.
Last week, Adam Glapinski, Poland's central bank governor, reiterated that there are no grounds for changing interest rates due to strong inflation growth with high wage dynamics, elevated core inflation, and a progressing economic recovery.
The market consensus indicates that the cuts will begin in the third quarter of 2025, likely in July.
Poland's benchmark interest rate is currently at 5.75 percent. The last time the RPP lowered interest rates was in October 2023.
Poland is set to hold a presidential election on May 18, with a possible runoff election on June 1. (PAP)
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