Poland Central Bank Leaves Rates Unchanged Again

(RTTNews) - Poland central bank held its key interest rate steady on Friday.

The Monetary Policy Council of the National Bank of Poland, led by President Marek Belka, decided to keep the key reference rate at 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 kept at 2.50 percent and the deposit rate at 0.50 percent. The rediscount rate was left unchanged at 1.75 percent.

The central bank is set to present its latest inflation forecasts later on Friday, which are likely to be downgraded.

"We don't expect a marked shift in the MPC's stance today; instead, we think that the accompanying statement will stress that policy will remain loose, without raising the prospect of rate cuts," Capital Economics economist William Jackson said.