(Bloomberg) -- The presidential candidate of Poland’s main ruling party kicked off his campaign on Saturday by calling on the central bank governor to lower interest rates and stop interfering with the economy.
Warsaw Mayor Rafal Trzaskowski, who is leading in opinion polls, accused Governor Adam Glapinski of deliberately keeping borrowing costs high to slow economic growth ahead of elections due in mid-2025.
The comments signal that monetary policy was again becoming a hot political topic in Poland after Glapinski unexpectedly said this week that rate cuts may be delayed until 2026. The governor’s rhetoric divided his policy panel and surprised economists.
“We need a strong zloty, a truly independent central bank governor and sensible policy,” Trzaskowski told a party convention in Gliwice, southern Poland. “And what’s happening, you can see for yourself — the governor promises to cut interest rates and then he fails to do so — this because he wants higher interest payments before the election, he wants to stop investments, to meddle.”
Glapinski, an ally of the Law & Justice opposition party, has repeatedly rejected allegations he is politicizing monetary policy. Prime Minister Donald Tusk and his Civic Coalition party — including Trzaskowski — have blamed Glapinski for allowing inflation to spiral to nearly 20% last year, the highest level in two decades.
“I call on Glapinski to lower interest rates,” Trzaskowski said.
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