The Governor of the National Bank of Poland, Adam Glapiński, says he favours at least one more rate hike of 50 basis points. At a news conference, he indicated that reducing the size of rate rises could indicate that the tightening cycle could soon be over, which wouldn't necessarily be so. Increasing it might indicate that inflationary pressures continue to rise. Therefore, he would prefer not to change the scale of current rate hikes and he would advise the Monetary Policy Committee to deliver something similar to yesterday's 50bp rise. He considers 3% as a safe rate level, perhaps even 4% if economic ... (full story)