Paweł Szałamacha: “We don’t feel sorry for the central bankers”
At the end of the panel, the former finance minister unexpectedly launched an interesting appeal to the room. – We don’t feel sorry for the central bankers. Central banks in recent years have acquired a sense of perhaps not a god, but almost a god in financial relations. At least partly by the more charismatic governors of the big central banks, Szałamacha said.
In his view, this is why central bankers today have to answer many fundamental questions about inflation.
– They will also be subject to strict public scrutiny. Even the emotional one, sometimes even not very elegant. Unfortunately, this is part of living in an open political system – claimed.
“As NBP we are well advanced”
Earlier, he mentioned factors that, in his view, contributed to the rise in inflation around the world. – These are shocks related to the pandemic situation, the closure of the Chinese economy, the closure of the possibility of transporting goods through ports, or hijacked supply chains, and finally the final mega-life, or war – he enumerated.
As he noted, “so double-digit inflation is back from a distant vacation.”
– To what horizon will the world fall and how do we, as NBP, see ourselves on this map? I believe we are in the right place. We were among the first to start last year normalize monetary policy (end of asset purchases and rate hike – editorial note). Looking at the reactions of dozens of institutions, we are in the right place – He said.
– I understand that there are very strongly articulated arguments to the contrary. And I respect that as part of the debate – added.
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