Monetary Policy Council

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The Monetary Policy Council, Polish: Rada Polityki Pieniężnej, (RPP) is a body of the NBP.

Each year, in parallel with the budget project presented by the government, the MPC sets the bases of monetary policy. It sets the level of the NBP’s interest rates, the rules and levels of bank’s reserve obligations, sets an upper limit on obligations resulting from loans taken by the NBP in foreign banking and financial institutions.

The MPC is made up of: Council Leader, who is the President of the NBP, and nine other members, selected in equal parts by the President of Poland, the Sejm and the Senate. Members of the MPC are chosen to serve for six year terms.

[edit] Members of MPC

[edit] 1998 - 2004

Hanna Gronkiewicz-Waltz - President of NBP (till December 2000) - Chairman of the MPC
Leszek Balcerowicz - President of NBP (since January 2001) - Chairman of the MPC
Marek Dąbrowski
Bogusław Grabowski
Cezary Józefiak
Janusz Krzyżewski (died 2003)
Wojciech Łączkowski
Jerzy Pruski
Dariusz Rosati
Grzegorz Wójtowicz
Wiesława Ziółkowska
Jan Czekaj (since 2003)