NBP lowers interest rates
PR dla Zagranicy
Roberto Galea
04.03.2015 14:31
The National Bank of Poland’s Monetary Policy Council (RPP) voted Wednesday to drop the benchmark rate to a record-low 1.50 percent.
The 50 bp cut was slightly higher than analysts’ expectations, although a cut was predicted by 20 out of the 22 analysts polled by PAP news agency.
“[The] Window of opportunity for monetary easing may be seen as closing amid relatively hawkish RPP in Poland,” mBank Research tweeted, just minutes following the decision. “We think Polish monetary policy will be more and more linked to EURPLN – the ultimate instrument of monetary policy in a small open economy,” another tweet read.
FM Bank PBP Chief Economist Ignacy Morawski tweeted that “The Monetary Policy Council is probably leaving the door ajar for a variety of options, but it will likely say more cuts are ‘finito’”
Despite the cut, the rate in Poland is still one of the highest in the EU. (rg)