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Reuters
04-04-2025
- Business
- Reuters
Polish central banker Kotecki expects May rate cut
WARSAW, April 4 (Reuters) - It is highly likely the central bank of Poland will cut rates in May and that this year's reduction in the cost of credit could reach 50-100 basis points, central banker Ludwik Kotecki told private broadcaster TOK FM on Friday. The National Bank of Poland has kept its main interest rate at 5.75% since October 2023. However, on Wednesday, NBP Governor Adam Glapiński abandoned his previously hawkish views and did not rule out cutting interest rates as early as May. "It seems that it is very, very, very possible. And the argument that will prevail will of course be the March data on the economy (will be published in April)," Kotecki said. "I have been saying for months that doves hatch from these hawk's eggs, and they did hatch ... And there are quite a lot of these doves in this council." Kotecki maintained his position that this year the scale of interest rate cuts in 2025 could amount to 50-100 basis points, and next year they could fall by another 100 basis points. "This economy needs interest rate cuts," Kotecki said. "The situation is better from the point of view of inflation and yet weaker from the point of view of the real economy. Therefore, there are strong arguments to start talking about these cuts, because 5.75% (the main interest rate) with such data is clearly too much." The Monetary Policy Council member also said the Polish economy may not suffer any direct consequences initially from the introduction of new customs tariffs by the U.S., but their indirect effects may become visible next year.
Euronews
30-01-2025
- Health
- Euronews
Poland welcomes first birth since IVF policy change
A child conceived by in vitro fertilisation (IVF) was born in Poland on Wednesday, the first since President Andrzej Duda signed into law a bill which restored public funding for the fertility treatment. Funding was previously slashed by the former conservative government in 2015. The health ministry announced the birth in a post on X, stating that "the first girl has been born as a result of the government's IVF programme," adding that "This birth is an extraordinary moment that is proof of the progress and care for the health of families." Polish Prime Minister Donald Tusk also remarked on the girl's birth in a video published on X. "We were all waiting for her, not just the happy parents," he said, adding that "their joy will be a good sign [...] for all other couples." President Duda's decision to sign the bill providing public funding for IVF last year was met with resistance from Polish conservatives, including the head of Poland's Catholic church, who attempted to block the bill, referring to IVF as "experimentation on man." However, Duda's office, whose old party is the conservative and Catholic Law and Justice (PiS), described it as a potential solution to Poland's "demographic challenges", as Poland has seen its birth rate decrease in recent years. In an interview with Polish broadcaster TOK FM, Polish Health Minister Izabela Leszczyzna announced specific data pertaining to the impacts of IVF funding, stating that over 23,000 couples have qualified for IVF treatment, and 9,258 women have become pregnant.
