Poland Central Bank Holds Key Rate Steady Again

(RTTNews) - Poland's central bank left its interest rate at a record low again, in line with economists' expectations, amid the outlook for stable growth and the lack of any inflationary pressure in the near term.

The Monetary Policy Council of the National Bank of Poland decided to maintain the key reference rate at 1.50 percent, the bank said in a statement on Wednesday.

The bank last lowered the rate by 50 basis points in March.

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.

In July, policymakers said annual price growth was likely to remain negative in the coming months, largely due to the earlier steep decline in commodity prices.

Further, they said the expected stable economic growth, amidst recovery in the euro area and good situation in the domestic labor market, reduce the risk of inflation remaining below the target in the medium term.