Poland holds key interest rate

EU

Photo by Lanski/Shutterstock.com

The National Bank of Poland (NBP) held its benchmark reference rate at a record low of 1.5% on Wednesday, in spite of inflation rate remaining much above medium-term target of 2.5%, media reports. 

Photo by Lanski/Shutterstock.com

The central bank, which ended an easing cycle in March 2015, also kept its Lombard rate flat at 2.5%, the deposit rate at 0.5% and the rediscount rate at 1.75%, media outlets including Polish Radio and Reuters said.

In January, inflation rate jumped to 4.4%, its highest level since December 2011. The NBP forecasts that inflation will continue to exceed the upper limit of its target band in the coming months before gradually decreasing back nearer the target.

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