RPP maintains forward guidance - minutes
The National Bank of Poland’s Monetary Policy Council (RPP) once again agreed to maintain interest rates unchanged until the end of Q3 2014, according to the minutes of the council’s meeting on May 7.
“TheCouncil maintained its assessment that the NBP interest rates should be kept unchanged for a longer period of time, i.e. at least until the end of the third quarter of 2014,” the statement said. “The Council members observed that a more comprehensive assessment of macroeconomic outlook needed to change the horizon of keeping the interest rates at the current level will probably be possible during the July meeting of the Council, when a new NBP projection is to be presented.”
In May, the RPP decided to leave the NBP’s reference interest rate at 2.5o percent. The lombard rate remains at 4.00 percent, the deposit rate at 1.00 percent and the rediscount rate at 2.75 percent.
