Poland's Central Bank in limbo as uncertainty continues over next MPC sitting

Poland's Central Bank remains in limbo as incumbent governor Leszek Balcerowicz refused to rule out he could be forced to call the next monetary policy council (MPC) sitting in case his successor is not appointed on time.

"I cannot say now that it will be necessary [to call the sitting], I will take any decision tomorrow," he told a Tuesday press conference.

Balcerowicz's term expires January 10, the day Parliament is expected to vote on his successor, Slawomir Skrzypek, currently acting CEO of top commercial bank PKO BP. The nomination of Skrzypek has been criticized, as he has no monetary-policy experience, though is a well-regarded manager. The governor is the only institution allowed to call MPC sittings. An acting governor cannot do so. The MPC had been scheduled to meet on January 23.

"In line with the schedule, the next meeting of the MPC will be held on 23 January 2007 and will be devoted to discussing the draft Inflation Report," the MPC wrote in a communiqué after its December sitting.
Source: onet.pl