| AFX News · Aktuelle Nachrichten · Archiv |
| 19.05.2008 09:44 |
Polish central banker says zloty strength 'no drama yet' for exporters |
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WARSAW (Thomson Financial) - Polish exporters are managing to deal with recent gains for the zloty although profits are falling as a result, central bank policymaker Halina Wasilewska-Trenkner said on Monday. She added intervention on currency markets in general should be avoided and would be unlikely to succeed. '(These levels for the) zloty are no drama yet for exporters,' Wasilewska-Trenkner told private radio PIN in an interview. 'Intervention in Polish conditions... on global financial markets is dangerous and would not be successful,' she added. The bank has raised interest rates by some 175 basis points since April of last year, helping propel the zloty around 10 percent higher in the last six months. Wasilewska-Trenkner, one of a group of policymakers that has consistently backed rises in borrowing costs, said it is too soon to talk about whether the bank would raise interest rates again in May. pawel.sobczak@thomsonreuters.com +48 22 447 2430 ps2/ms1 COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. |
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