Polish Ruling Party Leader Backs Central Bank Chief for New Term

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Polish central bank Governor Adam Glapinski should stay on for a second term, the country’s most powerful politician said on Monday.

In the strongest signal of support yet for the embattled governor, Jaroslaw Kaczynski, head of the ruling Law & Justice party, told Interia website that interest-rate increases in the country probably started at the right time and that he expects more tightening.

“I’m convinced” that Glapinski should remain for the second term, “but the decision is up to the president, not me,” Kaczynski said in the interview.

The surge in inflation to the fastest pace in more than two decades has raised doubts about Glapinski’s chances to stay on at the central bank after his current term expires in mid-2022. President Andrzej Duda will pick the candidate, while the parliament will need to approve the choice.

Polish President Hasn’t Yet Decided on Glapinski’s Second Term

Kaczynski, referring to a disagreement between parliament and the president, said he hasn’t spoken to Duda for a long time but their personal relations don’t have an impact on politics. 

The party leader said that the government had wanted the central bank to raise rates earlier and that there was a dispute between the two institutions. 

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