Polish opposition accuses governor of bias over rate cut

Zloty falls after sharp rate cut as opposition accuses Glapiński of helping goverment

Adam Glapiński
National Bank of Poland governor Adam Glapiński

Poland’s leading opposition party has renewed its criticism of the central bank governor, after the monetary policy committee controversially cut rates ahead of an election.

The National Bank of Poland’s monetary policy committee cut its reference rate by 75 basis points to 6% on September 6, despite high inflation levels. Headline year-on-year inflation dropped for the sixth consecutive month in August to reach 10.1%, but remained considerably above the NBP’s target of 2.5%.


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