Narodowy Bank Polski Clarifies Governance Rules and Governor's Essential Role
The Narodowy Bank Polski (NBP) has issued a formal clarification regarding the legal governance of its Monetary Policy Council (RPP). The central bank emphasized that, according to the NBP Act, the Governor holds exclusive authority to preside over the Council and convene its meetings. While designated members may temporarily chair sessions during brief absences for economic analysis presentations, they cannot assume the full legal or regulatory powers of the Governor. The statement underscores that all official resolutions must be signed by the President/Governor and participating members. Furthermore, the NBP clarified that the active participation of the Governor is a mandatory requirement for both the Monetary Policy Council and the NBP Management Board to function legally. This clarification aims to correct circulating misinformation regarding the bank's operational capacity in the absence of its leader.