Kaczyński says banks must make deposits more attractive
Banks may face an additional tax on their profits if they fail to raise interest rates on deposits amid high inflation, said Jarosław Kaczyński, leader of Poland's ruling party Law and Justice (PiS).
Speaking at a meeting with party supporters in Białystok, eastern Poland, on Saturday, Kaczyński said that banks should "come to their senses" and "radically" raise interest rates on deposits for the public.
"I don't want to make decisions for the bankers, but it must be a meaningful interest, not at the inflation level, but for the people to feel that their money is losing much less when it is deposited with a bank," Kaczyński said.
"If they don't, we'll have to impose a tax on their profits, and that's that," the party leader said.
Poland's inflation surged to 15.6 percent in June, while the best 12-month term deposits rarely offer more than 6 percent of interest per annum.