Poland Can Reduce Rates as Economy Slows, Belka Says

Poland’s central bank, the only one in the European Union to raise interest rates this year, has scope to reduce borrowing costs if needed as the country’s economy slows, Governor Marek Belka said.

“There is a room to reduce which, if necessary, I’m sure we’ll utilize,” Belka told Bloomberg Television during a weekend conference of central bankers and economists in Jackson Hole, Wyoming. “We feel the economy is slowing,” Belka said, while adding fluctuations in the currency are not a concern and its current value is “good for exports.”