Rate council holds rates as expected
October 3, 2013
Poland’s Monetary Policy Council held rates flat for a second consecutive sitting (third month) to meet both the universal market forecast and their own policy vows.
The decision, announced in a central bank statement, leaves the reference rate at 2.50%, its all-time low set at the last rate cut in July.
Official rates are capped at the 4.0% Lombard.
The ten-member council has left little question on the matter short-term, after having issued a vow in September to leave rates on hold to end-2013.
Poland’s Monetary Policy Council kicked off its easing cycle in November 2012 and had hinted at pause several times before issuing the last rate cut in July. The easing cycle to July included 225 bps in cuts.