Interest rates to be looked at if inflation goes above three percent: Economist

PolandIN asked Santander Bank Economist Piotr Bielski about the National Bank of Poland's rate setters decision on Wednesday to keep the reference interest rate at the 1.5 percent level, where it has been constant for four years.

"Next year, if we see inflation going above three percent and growth is still close to four or three-plus and wage growth is still decent, maybe we should start talking about interest rate hikes, because the current rates are a record low and were set as an emergency level," said Santander Bank Economist Piotr Bielski.

The National Bank of Poland's Chairman Adam Glapiński repeated familiar rhetoric explaining that the underlying macroeconomic indicators do not require the Monetary Policy Council to raise or reduce rates at its May meeting, which concluded today.

Click here to watch the full interview.