Polish central banker Hardt says rate hike the start of policy normalisation

WARSZAWA: A rate hike by Poland's central bank in October is the beginning of normalising monetary policy, rate setter Lukasz Hardt said on on Monday, quoted by the Parkiet daily.

"In my opinion, this was the beginning of the monetary policy normalization process, but its pace is not a foregone conclusion," Hardt told.

"It will depend on signals from the economy, including inflation expectations, and on whether the second-round effects will intensify," add.

The Polish Monetary Policy Council surprised markets last week by raising its policy rate to 0.5% from a record low of 0.1%.