Reading the Law

The article concerns the aspects of decisions and their effects connected with the activities of the monetary Policy Council of the National Bank of Poland. The author proves that since the institutional task of the National Bank of Poland is responsibility for the value of the Polish money, the activity of the Monetary Policy Council cannot be limited only to the damping of inflation. Also the Law on the National Bank of Poland imposes duties on the Council which seem to be not carried out. A less numerous composition of the Monetary Policy Council has been proposed, with a suitable rotation of its members and also the strengthening of the position of the chairman of the Council.