Polish rates could stay flat till at least Q4 of 2014 - central banker
WARSAW, Sept 19
WARSAW, Sept 19 (Reuters) - Poland's central bank will probably keep interest rates unchanged at their current all-time low until at least the fourth quarter of next year, a member of the Monetary Policy Council was reported as saying on Thursday.
Andrzej Bratkowski, one of the bank's 10 rate-setters, added that the council should start thinking about raising rates only when economic growth exceeds 3 percent.
Poland's economy expanded at a year-on-year rate of 0.8 percent in the second quarter this year, up from 0.5 percent recorded in the first.
"It seems highly probable that we won't do anything (in policy) in the first half of next year. It is also probable that we won't do much in the second either. Or nothing at all," Bratkowski said, quoted by news agency PAP.
"If we'll do something, then rather in the fourth quarter than in the third."
The central bank's policymakers have so far said that they would refrain from any moves on interest rates till at least the end of 2013 with investors expecting the gradual economic recovery to yield a rate hike in the third quarter next year.
Analysts currently expect the first interest rate hike to be delivered by the central bank in the third quarter of 2014.
Bratkowski was one of the central bank's two biggest supporters of the monetary easing campaign that halved the country's borrowing costs which have been at 2.5 percent since July.
The bank ended its easing campaign on expectations of a gradual economic recovery over the months ahead.
(Reporting By Karolina Slowikowska Editing by Jeremy Gaunt)