Floating rates are good for Zloty says Balcerowicz

- Central Banking staff
- 24 Jul 2002

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POLAND - "We won't have fast economic growth if we don't heal public finances," said Leszek Balcerowicz, governor of Poland's central bank, in a speech before parliament on Tuesday.

"But this demands cutting tax," he added. The president of the central bank has received criticism, especially from the ruling coalition parties, for cutting NBP interest rates too slowly and by too little.

But he retorted that lower interest would discourage the public from saving money at all, which would cause the

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