Poland's Monetary Policy Council (MPC) could raise rates at least once or twice more by 25 basis points if necessary, central bank governor Adam Glapinski said in an interview with Business Insider Polska published on Monday.

"We aren't tying our hands and announcing the end of the cycle of rate hikes. We are operating pragmatically," Glapinski said.

The MPC raised the main interest rate by 50 basis points to 6.5% in July. Data released earlier this month showed inflation reached 15.6% in July.

Glapinski added that while inflation is expected to pick up again in August, the pace of price growth could soon slow.

"A clear situation for the Monetary Policy Council and I would be if inflation would slow during the holidays and then start to drop. In this situation, we wouldn't raise rates," Glapinski said. (Reporting by Joanna Plucinska; Editing by Kim Coghill)


Reuters