As had been widely expected by economists, the National Bank of Poland's Monetary Policy Council (RPP) left interest rates unchanged at its December sitting. The NBP's reference rate remains at its historic low of 2.5 percent.
The RPP reduced the reference rate to that level in July 2013, thus ending a series of gradual cuts. It has since then maintained a neutral stance, saying that rates should remain flat at least until mid-2014.
“In the opinion of the Council, lowering interest rates in the first half of 2013 and keeping them unchanged in subsequent quarters supports recovery of the domestic economy, gradual return of inflation to the target and stabilization in the financial markets,” the RPP said in its press release.
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