To the contrary, when you look at projections, both Polish and international, we can expect some slowing down of the rate of growth in the coming year, 2012. But of course these are projections.

With the sugar market hysteria, the people are obviously worried and expect higher inflation. When this hysteria subsides, which we're probably observing, then I hope that people will also get less worried about the future of inflation.

It's not about the pace, it's about the direction we've set. The pace is of course a function of many factors, including the magnitude of the supply shock. But what's probably more important is the probability of the supply shock translating into sustainable embedded inflation.

Marek Belka Quotes