In the view of an expert of the Employers of Poland, Jacek Brzozowski, the Wednesday's decision of the Monetary Policy Council to cut prime rates by 25 basis points, aimed at stimulating the economy, is most likely the last one in this cycle.
- Interest rates, amounting to 2.5 per cent today, have already reached such a low level that, with the significant weakening of the zloty, the concerns about the emergence of inflationary impulse will begin to dominate among the members of the Monetary Policy Council - says the expert of the Employers of Poland. He also points out that the country’s monetary policy is just one of the elements of shaping the conditions for economic growth.
In his opinion, low interest rates and the expectation of the recovery of the economy, which will come from abroad, are not the pillars on which the government should base its business strategy. – Because of the increasing risk of default of the state budget revenue plan, it is clear how important the optimization, put aside for years, of fixed expenditure or public finance reform is - says the expert of the Employers of Poland.