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Financial News: Poland Central Bank Holds Key Rate Steady

Poland Central Bank Holds Key Rate Steady

11/06/2019 - 09:26:00 (RTTNews)

(RTTNews) - Poland's central bank kept its key interest rate unchanged at a record low on Wednesday, as widely expected.

The Monetary Policy Council decided to retain the key reference rate at a record low 1.50 percent, the National Bank of Poland said in a statement.

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

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

The central bank is set to present its latest macroeconomic projections later on Wednesday.

"Comments by President [Adam] Glapinski suggest limited revisions, supporting our call for flat rates until late 2021," ING economist Rafal Benecki said. " In 2021, in our opinion, interest rate cuts are likely," the economist added.

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