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WARSAW, Feb 8 (Reuters) - 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 here
”For now we all agree that wait-and-see is the best strategy. We are observing what is there. We assume ... that inflation will rise somewhat and ... price growth dynamics will stop and fall and this (state) will be maintained until the end of the year.
If this happens, I would of course back keeping interest rates at the current level.
This is the consensus we have for the time being. We are not discussing when to raise rates this year, but we do not exclude anything of course.
A rate hike is obvious if we had a sudden and sustained rise in inflation - this is obvious - and exceeding of the target, or even an outlook of exceeding the target in a sustained way.
For the time being the situation is so comfortable that we can take into account also the second goal written into the law, that is supporting the economy ... that is a policy of low rates.
Historically they (rates) are very low, perhaps we will enter negative (inflation adjusted rates) for a moment. This will not be the first time .... this had not had an impact on economic processes because everyone knew it was only for a moment.” (Reporting by Marcin Goclowski; Editing by Marcin Goettig)