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Poland governor say may intervene if zloty too volatile
June 3, 2014 / 2:42 PM / 4 years ago

Poland governor say may intervene if zloty too volatile

WARSAW, June 3 (Reuters) - Poland’s central bank governor Marek Belka said on Tuesday the bank has the option of intervening in the foreign currency market if it believes the zloty is too volatile.

The Polish zloty gained more than one percent versus euro in the last two weeks on speculation that the European Central Bank may cut rates, increasing the credit cost disparity between Poland and euro zone.

“We are here adhering to a policy of a free-float for the zloty, supplemented with the possibility of an intervention when we recognize that market dynamics are extensive,” Belka told a news conference when asked if he was worried about the strength of the zloty. (Reporting by Karolina Slowikowska; Writing by Marcin Goclowski; Editing by Christian Lowe)

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