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Marek Belka
Polish
January 9, 1952
Economist
We do see significant signs of a slowdown, in the economy worldwide.
Marek Belka
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Economy
Significant
Should that worse scenario materialize, then most probably our propensity to increase interest rates will be weaker.
Marek Belka
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Our
Will
Most
Our rate moves will have an impact on the economy in 2013. Whether we raise or lower rates depends on how the economic situation develops.
Marek Belka
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Our
Will
How
We're in a tightening cycle and the reason is the economy is growing, there's no expectation that the global economy and the Polish economy as a consequence could slow down dramatically.
Marek Belka
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Reason
To the contrary, when you look at projections, both Polish and international, we can expect some slowing down of the rate of growth in the coming year, 2012. But of course these are projections.
Marek Belka
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Look
As far as the international issues are concerned, the most important thing is the state of the transatlantic relationships, Euro-Atlantic relationships: how to develop them and how to strengthen them further.
Marek Belka
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Thing
With the sugar market hysteria, the people are obviously worried and expect higher inflation. When this hysteria subsides, which we're probably observing, then I hope that people will also get less worried about the future of inflation.
Marek Belka
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Hope
Future
People
It's not about the pace, it's about the direction we've set. The pace is of course a function of many factors, including the magnitude of the supply shock. But what's probably more important is the probability of the supply shock translating into sustainable embedded inflation.
Marek Belka
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