Polish monetary council keeps rates on hold
April 10, 2014
Poland's Monetary Policy Council stood by its long-running and twice-prolonged forward guidance and held rates flat for what is now the ninth month since it ended its easing in July 2013.
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 2013. Official rates are capped at the 4.0% Lombard.
The council will most likely adjust its bias in July, at the time of the presentation of central bank NBP's new inflation projection, central bank head Marek Belka said after on Wednesday.
"It seems that July - the month when we present the new projection - that is the moment when we will modify today's statement," Belka said.