High interest rates repeatedly criticised by government ministers
RPP's decision to leave interest rates flat was criticized by Finance Minister Jaroslaw Bauc yesterday, who said that the high rates had a strong impact in many respects, including the budget, which collected lower revenues due to lower economic activity and demand. Bauc also said that the high rates had led to zloty's overvaluation, which might result in lower exports in the future. This opinion contrasts with that of RPP, which argued the zloty's exchange rate had little connection to interest rates. At the same time, Economy Minister Janusz Steinhoff said interest rates should have been cut and blamed the high borrowing costs for the economic slowdown. bb, kp
Źródło:IntelliNews Daily
