On the Independence of the Central Bank Once Again

Abstract

Taking up the issue of central bank independence once again, which is a principle already established and sufficiently discussed in the literature, is aimed at assessing its functioning in contemporary Polish practice. As a result of the deliberations carried out on the basis of the relevant legal regulations and their application, critical comments were formulated concerning mainly the causes of the deteriorating situation in the monetary sector and the apparent decline in the purchasing value of the Polish currency. They are largely related to the central bank’s excessive support for the fiscal interests of the state at the expense of the stable value of the currency, while protection of the currency should be a constant priority for the central bank as an issuing institution.