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Poland: Dispute Between NBP and Finance Ministry
People ♦
Published: July 23, 2013; 22:37 ♦ (Vindobona)

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Finance Minister Jacek Rostowski and Governor of Polish National Bank Marek Belka are blaming each other for the poor performance of Poland´s economy.

According to Rostowski, NBP´s base rate cuts came too late. NBP has cut the base rate in several steps from 4.75% to 2.50%. Moreover, Poland´s economy would need further base rate cuts, Rostowski points out.
Already at the end of 2011, Poland´s economic growth decelerated. However, NBP even increased the interest rate from 4.50% to 4.75% in May 2012. The first base rate cut…
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