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Polish interest rates likely to stay intact until end-2021: central bank chief

PR dla Zagranicy
Grzegorz Siwicki 04.07.2019 09:45
Poland’s interest rates are likely to hold steady until at least the end of 2021, the country’s central bank chief has said.
Poland's central bank chief Adam GlapińskiPoland's central bank chief Adam GlapińskiPicture: nbp.pl

Adam Glapiński, head of the National Bank of Poland (NBP), was speaking after the Polish central bank's rate-setting Monetary Policy Council on Wednesday left interest rates unchanged.

Glapiński said last month that Poland’s interest rates were optimal and likely to remain where they were in the foreseeable future.

He told a banking conference in March that interest rates in the country were stable and that, in view of forecasts at the time, there appeared to be no reason for them to change until the current team of rate setters end their term in 2022.

The reference rate in Poland has remained at 1.50 percent for more than four years.

The last time the rate-setting Monetary Policy Council changed interest rates was in March 2015.

At the time, after trimming rates by 50 basis points, the council said the move was “closing a cycle of monetary policy easing.”


Source: IAR

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