Poland Central Bank Holds Fire Again

(RTTNews) - Poland's central bank left its key interest rate unchanged at a record low on Friday amid the lack of inflationary pressures.

The Monetary Policy Council of the National Bank of Poland decided to retain the key reference rate at a record low 1.50 percent.

The decision was in line with economists' expectations. Previously, the bank lowered the rate by 50 basis points in March last year.

The lombard rate was maintained at 2.50 percent and the deposit rate at 0.50 percent. The rediscount rate was kept at 1.75 percent.

Headline inflation was -0.9 percent in March, worsening from February's -0.8 percent. Core inflation that excludes fresh food and energy was negative for a third straight month.

The central bank targets a price growth of 2.5 percent. However, inflation is projected to be -0.4 percent this year and 1.3 percent next year.