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Central bank governor: Poland enters stage of relaxing monetary policy
Last Updated(Beijing Time):2008-12-05 13:59
Poland has entered a stage of relaxing its monetary policy, central bank NBP governor Slawomir Skrzypek said on Thursday.

"The lowering of interest rates by 25 base points is actually a signal that a series of rises has ended and we are beginning to relax the monetary policy," Skrzypek said in an interview for TVN CNBC TV station.

According to the NBP governor, there is a chance that the Monetary Policy Council (RPP) can give up its tradition of not changing the interest rates in December.

Skrzypek claims that "all indicates that over the years to come the RPP's concern will not be directed to inflation but to economic growth."

According to him, Poland's inflation will fall to return to the target at the turn of 2009 and 2010, and the economic growth in 2009 may be higher than envisioned by the inflation projection. "It will be a year of high risks," Skrzypek added.

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