Interest rates unchanged, perhaps until end 2020 – NBP head

Monetary Policy Council kept interest unchanged, with reference rate still at 1.5 percent, NBP stated.

NBP head Adam Glapiński stated that he sees no reason to raise interest rates in 2019 and perhaps even in 2020. He warned, however, that “should economic performance drop and inflation start to decrease, we would be in a difficult position, with little room to cut interest rates, if – theoretically – such a situation should occur.”

Lombard rate is at 2.5 percent, deposit rate at 0.5 percent and rediscount rate at 1.75 percent.

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