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Financial News: Poland Central Bank Keeps Rates Unchanged

Poland Central Bank Keeps Rates Unchanged

06/06/2018 - 08:09:00 (RTTNews)

(RTTNews) - Poland's central bank left its key interest rate unchanged at a record low on Wednesday, in line with economists' expectations.

The Monetary Policy Council of the National Bank of Poland decided to hold the key reference rate at a record low 1.50 percent.

The previous change in the reference rate was a half-basis point reduction in March 2015.

The lombard rate was maintained at 2.50 percent and the deposit rate at 0.50 percent. The rediscount rate was retained at 1.75 percent.

Inflation rose to 1.6 percent in April from 1.3 percent in March. But it remained at the lower end of the central bank's target of 1.5-3.5 percent.

Liam Carson, an economist at Capital Economics, said inflation will climb above target in the first half of 2019, prompting the first hike in the policy rate since 2012. The economist expects a total of 100 basis point of hikes over 2019 as a whole, taking the policy rate to 2.50 percent by year-end.

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