Ruling party to support central bank governor’s reappointment

Glapinski, whose term of office ends in June, has been criticised by the opposition for downplaying inflation concerns last year and allowing it to reach too high a level before embarking upon rate hikes. Rafał Guz/PAP

Jaroslaw Kaczynski, leader of Poland's ruling party Law and Justice (PiS), has said the party will support the president's motion to keep Adam Glapinski as the central bank head for a second term of office.

In late February, President Andrzej Duda submitted a motion to the Sejm, the lower house of parliament, to reappoint Glapinski as governor of the National Bank of Poland (NBP).

"We're heading towards the final decision and of course the decision will support the president's motion," Kaczynski said on radio on Friday.

Glapinski, whose term of office ends in June, has been criticised by the opposition for downplaying inflation concerns last year and allowing it to reach too high a level before embarking upon rate hikes.

Despite seven rate hikes since last autumn, the reference interest rate, now at 4.5 percent, is still far behind the inflation curve as the March CPI surged to 10.9 percent, according to Poland's statistics office.