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The Monetary Policy Council of Poland’s central bank decided to keep its key interest rate on hold at a record low, international news wire Reuters reported.

Photo by MOZCO Mateusz Szymanski/Shutterstock.com

The National Bank of Poland (Narodowy Bank Polski or NBP) said in a statement on January 8 that it had decided to leave its key reference rate at a record low 1.5%. 

An upturn in consumer price index inflation in December was caused mainly by food and fuel prices, the NBP said. Poland’s flash December CPI of 3.4% on January 7 came as a surprise to most market analysts, well above the expected.

The last change in the key interest rate was a half-basis point reduction in March 2015. The Lombard rate was maintained at 2.5% and the deposit rate at 0.5%, Reuters said.