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Poland’s Duda recommends Glapinski for second term as central bank governor -PAP

© Reuters. FILE PHOTO: Poland’s central bank governor-designate Adam Glapinski speaks during a hearing at a parliamentary panel at the Parliament in Warsaw, Poland May 20, 2016. Agencja Gazeta/Kuba Atys via REUTERS

WARSAW (Reuters) – Polish President Andrzej Duda has submitted Adam Glapinski’s name to the speaker of parliament to serve a second term as central bank governor, top presidential aide Pawel Szrot was quoted as saying by news agency PAP on Saturday.

“The president positively assesses the actions of governor Glapinski, which were aimed at limiting the economic effects of the epidemic,” Szrot told state-controlled PAP.

The president’s candidate for central bank governor is subject to parliament’s approval. Glapinski’s current term ends on June 21.

Poland’s Monetary Policy Council (MPC) in October started a tightening cycle to fight surging inflation. The MPC raised interest rates in four consecutive meetings. In January the main interest rate was raised by 50 basis points to 2.25%.

The next rate-setting meeting is scheduled for Feb. 8.

In January Glapinski said that taking into account the latest macroeconomic data, interest rates in Poland should rise more than the market currently expects.

Poland’s Duda recommends Glapinski for second term as central bank governor -PAP

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