Adam Glapiński, head of the National Bank of Poland (NBP), was speaking after the Polish central bank's rate-setting Monetary Policy Council left interest rates intact a day earlier.
Glapiński told the media that Poland’s interest rates were likely to stay put amid considerable market uncertainty, public broadcaster Polish Radio’s IAR news agency reported.
He said at a news conference in Warsaw that if Polish interest rates were to change, they would be more likely to go down than up, the IAR news agency reported.
"I cannot imagine the rates being hiked now," he stated.
The Monetary Policy Council left interest rates unchanged on Wednesday, keeping the reference rate at 5.75 percent.
The panel earlier slashed key interest rates by a combined 100 basis points, amid signs of subsiding inflation.
In late 2021 and last year, the Monetary Policy Council had delivered a string of rate hikes in an effort to contain surging consumer prices.
Inflation in Poland stood at 6.5 percent last month, down from 8.2 percent in September, according to a flash estimate by the country’s statistics office.
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Source: IAR