Ex-rate setter named as candidate for Polish central bank governor

"The President of Poland, Andrzej Duda, will submit a motion to the Polish Sejm [lower house of parliament] for the appointment of Prof. Adam Glapiński to the post of the President of the National Bank of Poland," the President’s Office said in a statement.

Glapiński was appointed to the bank’s management board in February.

Glapiński is a former adviser to the late President Lech Kaczyński, the twin brother of Jarosław Kaczyński, leader of Poland’s ruling Law and Justice party.

Before joining the country's rate-setting Monetary Policy Council, Glapiński presented himself as a supporter of a strong state presence in the economy and as an opponent of an early adoption by Poland of the euro.

While in the Monetary Policy Council he was considered as dovish, generally in favour of lowering interest rates.

Glapiński is set to replace Marek Belka as central bank governor. Belka, whose term ends in June, is Poland's official candidate for the top post at the European Bank for Reconstruction and Development.

Glapiński must now be approved by the lower chamber. President Duda hails from the Law and Justice Party, which holds a majority in parliament. (pk)

Source: PAP