* For statement double click here
WARSAW, March 8 Following are comments by Polish
central bank governor Adam Glapinski delivered on Wednesday
after the bank left its benchmark interest rate unchanged at a
record low of 1.50 percent.
The central bank's statement after the decision is available
"My personal opinion, which I uphold, (is that) if current
tendencies are maintained then until the end of this year I see
no reasons to think about changing the level of interest rates.
It is hard to say what will come next.
"One has to carefully observe all tendencies. Undoubtedly,
inflation indicators have risen throughout Europe, in all the
western world, and there are some reasons to think that the
economic situation is improving in some countries. (...)
"Our projection shows that inflation will rise due to a rise
in commodity prices and food. This (price) growth will go up due
to statistical effects, ease slightly afterwards and stay at a
"When will this inflection point take place? We expect it
may take place at the turn of the year. But of course we will be
carefully observing it to see if indeed this inflection point
has taken place and this slight fall (in CPI) and later
"We have elections in two key (European) countries, which
may introduce some corrections in this scenario. And of course
other events that could impact oil prices (...)
"There would be no reason to increase rates in this period
that I am talking about - because we are talking about
potentially raising rates here - until actually the end of next
year. But I would not go that far of course.
"In my opinion there will be no reasons to think about
raising rates by the end of this year.
"But I repeat, the decision has a collective nature and is
expressed through a vote, if such a motion is filed. It is hard
for me to say how it will be. I will be convincing members of
the Council to (express) such a stance."
(Reporting by Marcin Goclowski and Marcin Goettig, editing by