RPP rejected three rate cut motions in November

The National Bank of Poland’s Monetary Policy Council (RPP) rejected three motions for interest rate cuts during its sitting in early November, according to the minutes of the meeting published on Thursday. Members of the council suggested reducing the NBP’s rates by 100 basis points, then 50 basis points and finally, by 25 basis points. Neither of the proposals was successful. The NBP’s reference rate remains at 2.00 percent, the lombard rate at 3.00 percent, the deposit rate at 1.00 percent, the rediscount rate at 2.25 percent.