July 2, 2022
  • July 2, 2022

Polish president says central bank chief did well in first term

By on December 27, 2021 0

WARSAW, Dec. 27 (Reuters) – Polish central bank governor Adam Glapinski has done a good job in his first term, President Andrzej Duda said on Monday, signaling that he could support him for a second term from from 2022.

With inflation reaching levels not seen in more than two decades, Glapinski has been criticized by some economists for starting to tighten monetary policy too late, but Duda, who has already signaled his support to the governor, dismissed this and said praised his actions during the COVID -19 pandemic.

“I think Governor Glapinski performed well in this post during his first term,” Duda told private broadcaster Polsat News. “When there was fear of panic around the banks, the governor acted very calmly, which made a great impression on me.

When asked if Glapinski was slow to see the need to raise rates, Duda said that “many experts say quite differently that he reacted in the right way and that this reaction was not at all a delayed reaction “.

The governor of the central bank is appointed by parliament, at the request of the president, for a six-year term. Glapinski was appointed by Duda and appointed by parliament as head of the central bank in 2016.

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Reporting by Alan Charlish; Editing by Alison Williams

Our Standards: Thomson Reuters Trust Principles.