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Poland lowers interest rates again amid epidemic

08.04.2020 14:35
Polish rate-setters on Wednesday decided to trim interest rates by half a percentage point, in the second cut after a coronavirus outbreak hit the country.
Photo: Henryk NiestrójPixabay
Photo: Henryk Niestrój/Pixabay Pixabay License

The move by the Polish central bank's Monetary Policy Council means the reference rate will be lowered from 1.0 percent to 0.5 percent

On March 17, in its first change to interest rates in five years, the Monetary Policy Council lowered the reference rate from 1.5 percent to 1.0 percent.

Wednesday’s decision comes as Poland fights a coronavirus epidemic, which has claimed 136 lives in this country.

The outbreak has triggered fears that the economy will suffer a body blow and that many who have taken out loans will have trouble making repayments.

(pk/gs)

Source: IAR