IMF stresses Polish c bank must remain independent

- Central Banking staff
- 03 Apr 2002

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POLAND - The International Monetary Fund expects a limited reduction in official Polish interest rates in 2002, as 900 basis points of cuts over the past 12 months take effect, but it harshly criticized government coalition members' attacks on the independence of the National Bank of Poland and its rate-setting council.

"Interest rate decisions in coming months will be tough, but it is obvious that the large scale of cuts made in 2001 are impossible," Susan Schadler, chief of the IMF's current

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