Interest cuts possible at year-end, central bank head says

It is too early for interest rate cuts now, though they may be possible at the end of the year, Poland's central bank governor Adam Glapiński said on Monday at the World Copernican Congress in Toruń, northern Poland.

"Right now it's too early to discuss interest rate cuts. I would like this to be possible around the end of 2023. We will apply cuts at the right moment," Glapiński said.

Commenting on inflation, Glapiński said it is likely to fall to a single-digit level in Poland at the end of 2023.

"Inflation in Poland will be falling already at the end of this quarter to arrive at a single-digit level at the end of the year," he said.