“In the long run too low rates inhibit economic growth. In the short term, increase the risk of economic fluctuations and excessive debt,” – said in an interview Rzońca “Gazeta Wyborcza”.
MPC member pointed out that already mortgages today are growing at a rate of ten percent per year – so two to three times faster than disposable incomes grow people.
“When the rate of return to normal levels, the average loan repayment installment of a 30-year increase of 30% . The more we descend down the interest rate, the more increase in the future installment loans. The longer be delayed any normalization of the feet, the more households will pay dearly for only transiently cheap credit “- argued Rzońca.
Rzońca is seen as one of the so-called. hawks in the MPC – advocated, among others October against cuts in interest rates (about 50 bp in the case of a reference rate and rediscount rate by 100 basis points, and in the case of the lombard rate).
After the October cut main reference rate is 2.0%. Most analysts expect, however, that the next cut – probably about 25 bp – comes at the MPC meeting in early March.
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