Poland’s central bank kept its interest rates steady at a record low on Wednesday as widely expected by economists.
The Monetary Policy Council of the National Bank of Poland, led by Governor Marek Belka, maintained the key reference rate at 1.50 percent.
The bank last reduced the rate by 50 basis points in March. The MPC earlier hinted that rates were likely to be kept unchanged.
The lombard rate was kept at 2.50 percent and the deposit rate at 0.50 percent. The rediscount rate was left unchanged at 1.75 percent.
Large amounts of spare capacity in the economy will keep a lid on inflation, meaning that the MPC will face no pressure to raise interest rates this year or next, William Jackson, senior emerging markets economist at Capital Economics said.
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