Poland’s central bank kept its key interest rate unchanged at a record low on Wednesday, as widely expected, Markets Insider reports.
The Monetary Policy Council decided to retain the key reference rate at a record low 1.5%, the National Bank of Poland (Narodowy Bank Polski or NBP for short) said in a statement.
The previous change was a half-basis point reduction in March 2015. The Lombard rate was retained at 2.5% and the deposit rate at 0.5%. The rediscount rate was left unchanged at 1.75%.
The central bank has increased its inflation forecast for 2019 to 2.2-2.4% from a previously expected 1.7-2.3% and cut the forecast growth rate to 3.9-4.7% this year from 3.9-5.1%, the NBP said in a statement on Wednesday, Markets Insider adds.