Jan 8 (Reuters) - WARSAW, Jan 8 (Reuters) - Poland's accelerating inflation calls for raising interest rates, Monetary Policy Council (MPC) member Andrzej Kazmierczak was quoted on Saturday as saying.
On Monday, Kazmierczak said that price growth at above 3 percent suggested monetary tightening should be considered. . The finance ministry forecast 3.1 percent inflation for December.
'It seems that we now have a worrying situation of increasing inflation which will call for monetary policy tightening,' Kazmierczak was quoted by daily Nasz Dziennik as saying.
In November inflation slowed to 2.7 percent, staying above the central bank's 2.5 percent target.
Kazmierczak did not specify when the 10-strong MPC would change the key interest rate, currently at an all-time low of 3.5 percent. He added however that such a move could hurt economic growth.
'And this (monetary tightening) will hamper the economic activity, gross domestic product growth and will foster higher unemployment.'
Unemployment stood at 11.7 percent in November and on Friday the Labour Ministry estimated it rose to 12.3 percent in December. The number of people without job traditionally rises in winter as demand for seasonal work fades.
Analysts polled by Reuters expect the MPC to leave rates unchanged at the panel's next sitting on Jan 18-19.
(Reporting by Kuba Jaworowski) Keywords: POLAND RATES/ (jakub.jaworowski@thomsonreuters.com; Reuters Messaging: jakub.jaworowski.reuters.com@reuters.net; tel. + 48 22 653 97 23) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
On Monday, Kazmierczak said that price growth at above 3 percent suggested monetary tightening should be considered. . The finance ministry forecast 3.1 percent inflation for December.
'It seems that we now have a worrying situation of increasing inflation which will call for monetary policy tightening,' Kazmierczak was quoted by daily Nasz Dziennik as saying.
In November inflation slowed to 2.7 percent, staying above the central bank's 2.5 percent target.
Kazmierczak did not specify when the 10-strong MPC would change the key interest rate, currently at an all-time low of 3.5 percent. He added however that such a move could hurt economic growth.
'And this (monetary tightening) will hamper the economic activity, gross domestic product growth and will foster higher unemployment.'
Unemployment stood at 11.7 percent in November and on Friday the Labour Ministry estimated it rose to 12.3 percent in December. The number of people without job traditionally rises in winter as demand for seasonal work fades.
Analysts polled by Reuters expect the MPC to leave rates unchanged at the panel's next sitting on Jan 18-19.
(Reporting by Kuba Jaworowski) Keywords: POLAND RATES/ (jakub.jaworowski@thomsonreuters.com; Reuters Messaging: jakub.jaworowski.reuters.com@reuters.net; tel. + 48 22 653 97 23) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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