RPP leaves rates flat, as expected
As had been widely expected, Poland’s Monetary Policy Council (RPP) did not change the National Bank of Poland’s interest rates at its April sitting. The reference rate remains at a record low 2.50 percent.
“In the opinion of the Council, gradual economic recovery is likely to continue in the coming quarters, however, inflationary pressures will remain subdued,” the RPP wrote in its press release.
At a press conference after the sitting, NBP President Marek Belka said that the council may modify its forward guidance in July, when a new inflation projection is prepared at the central bank. “Until that moment, if nothing happens, there will be no changes to it,” he said.
The RPP had earlier said that rates could stay flat not only until mid 2014, but possibly even through the third quarter of the year.
