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Poland’s senate names nominees for central bank rate-setting council -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A woman leaves the headquarters of National Bank of Poland in Warsaw, March 4, 2015. Poland cut interest rates more than was expected Wednesday. This is to reduce deflation and stop excessive gains in its currency.

WARSAW (Reuters – Poland’s upper house announced Friday that its nominations were made for the Monetary Policy Council in the next year. The current six-year-terms of many of the members will expire.

In 2022, nine of the 10 central bank rate-setting members are expected to retire. Each party can nominate up to three members of the council. The governor is appointed by the president.

Marcin Bosacki is the Senate leader of Poland’s biggest opposition party Civic Platform. He said that three of his nominees are Przemyslaw Literwiniuk (a professor at University of Warsaw), former deputy finance Minister Ludwik Kokotecki and Joanna Tyrowicz (also a professor at University of Warsaw).

Bosacki stated that “Before Christmas, we have good news – we’ve got competent, skilled professionals to fill the Monetary Policy Council in a difficult period.”

He said that the Senate would vote on these candidates within three weeks.

Both Eugeniusz Galnar and Jerzy Krupiwnicki, who are currently MPC members, will be out of office by January 25th. The term of Rafal Supra, the third MPC member, will expire in November.

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