RPP leaves all interest rates unchanged
17:41
The Monetary Policy Council (RPP) at its one-day meeting on November 6 kept all NBP interest rates unchanged, so the reference rate is still 0.10 percent on an annual basis, the RPP announced in a statement. The decision of the Council was in line with market expectations.
The remaining interest rates are, therefore: a lombard rate of 0.50 percent on an annual basis, the deposit rate 0.00 percent on an annual basis, the rediscount rate of 0.11 percent on an annual basis, and the discount rate of 0.12 percent on an annual basis.
The strong increase in the number of Covid-19 infections and the tightening of epidemic restrictions will contribute to a clear weakening of the economic situation in Q4 this year, the Council also stated. According to the November projection of the central bank, there is a 50 percent probability that GDP will decline this year in the range from minus 3.0-4.1 percent.
