Poland leaves interest rates unchanged

The Polish central bank's Monetary Policy Council left interest rates intact on Wednesday, keeping the reference rate at 3.75 percent.

The Warsaw headquarters of the National Bank of Poland (NBP).

Photo: Andrzej Barabasz, CC BY-SA 4.0 , via Wikimedia Commons

The Lombard rate remained unchanged at 4 percent and the deposit rate held steady at 3.25 percent, the National Bank of Poland (NBP) said.

The Monetary Policy Council in March lowered interest rates by 25 basis points, citing easing inflation.

Last year, the panel cut rates six times by a combined 175 basis points.

Inflation stood at 4 percent year-on-year in September, up from 3.4 percent in August according to a flash estimate by Poland’s statistics office.

(gs)

Source: IAR/PAP, nbp.pl