Poland’s central bank holds key rate unchanged again

MNB

Photo by MOZCO Mateusz Szymanski/Shutterstock.com

The National Bank of Poland held its benchmark reference rate at a record low of 1.5% on Wednesday. The decision was in line with economists’ expectations, said media including Polish Radio and Reuters.

Photo by MOZCO Mateusz Szymanski/Shutterstock.com

Policymakers said the current level of interest rates is conducive to keeping the Polish economy on a sustainable growth path and maintaining macroeconomic stability, while at the same time enabling the NBP to meet the inflation target in the medium-term.

In December, annual inflation jumped to 3.4%, its highest level since October 2012 and well above the central bank’s medium-term target of 2.5%.

The central bank forecasts that inflation will continue to exceed the upper limit of the band in the coming months and then gradually fall back to nearer the target.

The Lombard rate and the deposit rate were also kept steady at 2.5% and 0.5%, respectively, and the rediscount rate was left unchanged by the NBP at 1.75%. 

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.