NBP's Rybinski denies rates will be slashed

A senior official from the National Bank of Poland warned markets Monday 28 February that expectations of a sharp falls in interest rates this year were misguided.

The Deputy Governor of the central bank, Krzysztof Rybinski, said the inflation target of 2.5 percent year-on-year, plus or minus one percentage point, would be jeopardised if sharp cuts were made.

"Cuts of 150 basis points would cause the inflation prognoses to point above target," Rybinski was quoted as saying by the PAP news agenc

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