RPP keeps rates unchanged
Poland’s Monetary Policy Council (RPP) announced after its monthly sitting to keep rates unchanged, with the NBP central bank’s reference rate set at 2.50 percent.
The decision is in line with expectations. All economists surveyed by the PAP news agency were convinced that the rates would not change this month, with most expecting some form of policy shift in November 2014.
At a press conference on Wednesday, National Bank of Poland President Marek Belka said that the RPP has decided to extend its earlier guidance of stable rates until at least the end of Q3 2014. Most recent economic projections show that there is no risk of inflation pressure, he explained.
The RPP reduced the reference rate to its historically lowest level of 2.50 percent in a series of cuts that ended in July 2013.
