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Former Polish Central Banker Breaks Silence to Brand Current Policy as Reckless

  • Belka says Poland’s economy doesn’t need so much stimulus
  • Ultra-low rates risk bank stability, mainly help government

Poland’s central bank acted recklessly by slashing interest rates to nearly zero, according to former Governor Marek Belka.

One of the most widely known Polish officials by international investors, Belka had largely refrained from speaking publicly about the bank he left four years ago. That changed after last week’s unexpected decision to cut rates left him “astonished.”