The Monetary Policy Council (RPP) reduced all interest rates by 50 bp at the Wednesday meeting.
The Council decided to lower the NBP reference rate to the level of 0.50% on an annual basis. The lombard rate is now 1.00%, the deposit rate – 0.00%, the rediscount rate 0.55% and the promissory note discount rate 0.60% (all rates on an annual basis).
The RPP resolution enters into force on April 9, 2020.
The usual press conference after the MPC meeting was canceled.