Robert Besser
06 Jul 2022, 23:30 GMT+10
WARSAW, Poland: As Poland's main interest rate remains at its highest level since 2008, boosting the profits of Polish banks, the nation's banks have been asked to offer clients higher interest on their deposits or face higher taxes.
This was announced by Jaroslaw Kaczynski, the leader of Poland's ruling party, intensifying government pressure on the banking sector to share the benefits of rising rates with savers.
The high interest rate has been squeezing household budgets, in a country where floating rate mortgages are the norm.
"I do not want to decide for the bankers, but it must be a solid percentage, not at the level of inflation, but enough for people to feel that this money will lose much less value when it is in the bank," Kaczynski said during a speech in the eastern city of Bialystok.
"If not, then we will have to tax these profits, and that's it."
Polish Prime Minister Mateusz Morawiecki has previously criticized banks for not offering savers enough interest, and said in May he would use "persuasion" to make banks offer more money back to customers.
Get a daily dose of New Zealand Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to New Zealand Star.
More InformationZAGREB, Croatia: Authorities have said that a weekend bus crash near Varazdin in Croatia killed 12 passengers and injured 32.The ...
WASHINGTON D.C.: The U.S. will participate in a joint military exercise in mid-October with India, less than 62 miles from ...
SEOUL, South Korea: South Korea has launched a domestically manufactured lunar orbiter that took off from Florida's Cape Canaveral Space ...
MOSCOW, Russia: A leading Russian scientist in the field of hypersonic flight, Dr. Alexander Shiplyuk, has been arrested on suspicion ...
LOS ANGELES, California: During a meeting that was disrupted by protesters this week, the Los Angeles City Council voted to ...
WASHINGTON D.C.: The U.S. Justice Department announced this week that former Puerto Rico governor Wanda Vazquez has been arrested in ...
NEW YORK, New York - Stocks closed mixed the world over Thursday as investors struggled to get a clear picture ...
NEW YORK CITY, New York: In another frustrating day for U.S. travelers, on the morning of August 9, 153 flights ...
JAKARTA, Indonesia: A senior cabinet minister in Indonesia has told CNBC Indonesia that U.S. carmaker Tesla has signed contracts worth ...
SYDNEY, NSW, 2000 - Stocks in Asia, with the exception of Japan, rallied on Thursday following the release of July ...
LOS ANGELES, California: Since early May, Charlie Hamilton has not irrigated his vineyards with water from the Sacramento River, despite ...
YANGON, Myanmar - Honeys Holdings, a Japanese clothing retailer that manufactures much of its product line in Myanmar, has decided ...