Polish president says central bank chief did well in first term

  • 12/27/2021
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WARSAW, Dec 27 (Reuters) - Polish central bank governor Adam Glapinski did a good job in his first term in office, President Andrzej Duda said on Monday, in a further signal he could back him for a second term in office starting in 2022. With inflation surging to levels not seen in over two decades, Glapinski has faced criticism from some economists for starting to tighten monetary policy too late, but Duda, who has previously signalled his support for the governor, rejected this and praised his actions during the COVID-19 pandemic. "I believe that governor Glapinski did well in this position during his first term of office," Duda told private broadcaster Polsat News. "When there was great concern that panic surrounding banks could occur, the governor acted in a very calm manner, which made a great impression on me. Asked whether Glapinski had been to slow in seeing the need to raise rates, Duda said "many experts say quite differently that he reacted in the right way, and that this reaction was not a delayed reaction at all". The central bank governor is appointed by parliament, at the request of the president, for a 6-year term. Glapinski was nominated by Duda and appointed by parliament as the central bank"s head in 2016.

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