Poland's central bank governor, Adam Glapinski, has dismissed the charges against him as baseless and outlined a cautious approach to interest rates. The charges include lacking independence, breaking constitutional rules, and misleading the finance ministry. Glapinski's dismissal could result from an unprecedented process initiated by a motion submitted to parliament's speaker.
Watch onWARSAW - Poland 's central bank governor dismissed the charges against him in a motion which seeks to bring him before a State Tribunal as"baseless" on Friday, as he laid out a cautious path ahead for interest rates.
The motion submitted to parliament's speaker last month set in train an unprecedented process that could result in Governor Adam Glapinski being removed from his post.
Glapinski hit back on Friday in his monthly press conference, held after the National Bank of Poland left its main interest rate on hold at 5.75% for the sixth month in a row. "They are completely baseless, easy to refute, and seem to have been written hastily," Glapinski said of the charges. He said that if the NBP had not used quantitative easing during the pandemic Poland's subsequent economic growth would have been weaker and he dismissed the idea that he had deliberately misled the finance ministry.
Poland Central Bank Governor Charges Interest Rates Independence Constitutional Rules Finance Ministry
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