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Poland holds key rate unchanged

Banking

Photo by Pawel Michalowski/Shutterstock.com

Poland's central bank left its key interest rate unchanged on Wednesday, and said the scale of the possible economic recovery this year, after the coronavirus pandemic, remains uncertain, according to a report by RTT News.

The Monetary Policy Council left the reference rate unchanged at 0.10%, the National Bank of Poland said. That was in line with economists' expectations. The bank said it will continue to purchase government securities and government-guaranteed debt securities on the secondary market, the timing and scale which will depend on the market conditions.

The NBP also said it will offer bill discount credit aimed at refinancing loans granted to enterprises by banks. Growth in economic activity may be limited by the heightened uncertainty and the weaker sentiment of economic agents than before the pandemic that will lead to a significant slowdown in investment growth, the bank added

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