RPP cuts interest rates by 0.50 pp

The Monetary Policy Council (RPP) has decided, in line with expectations, to lower interest rates by 0.50 percentage points after its two-day sitting on Tuesday and Wednesday. The NBP’s reference rate stands now at 1.50 percent, a new record low, the lombard rate at 2.50 percent, the deposit rate at 0.50 percent and the rediscount rate at 1.75 percent. Last time, the RPP lowered the interest rates in October 2014.