Poland's Swiss franc mortgages seen as 'ticking bomb'

Warsaw

SWISS franc-denominated mortgages in Poland's banking system are a ticking bomb, central bank governor Marek Belka said on Wednesday, calling on lenders to shoulder some of the cost of converting the loans into zlotys.

He spoke after the central bank decided to keep interest rates unchanged as it still expects robust economic growth to push inflation back to positive levels by year-end.