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The Warsaw Voice » Business » April 13, 2018
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Rates still frozen
April 13, 2018   
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Adam Glapinski
Poland's Monetary Policy Council kept official rates stable for yet another month amid widespread expectations that rate stability will extend even to late 2019, holding the reference rate at the 1.5% set by predecessors in March 2015.
MPC has taken courage for its rate stabilization strategy and now considers the next rate move so distant, even two years off, that the next move need not be a hike, NBP governor Adam Glapinski told the afternoon policy briefing.
Below expectation inflation readings over recent months have forced lingering MPC hawks to revise their stance, Glapinski added..
MPC retained key bias phrasing and an outlook for stable rates, while saying the economy appeared to hold its recent pace thanks in part to a broadening investment recovery, the policy statement showed.
Poland's zloty is currently "very strong" and the MPC "is not interested" in further appreciation, even though gains have not created any specific problems in the economy to date, Glapinski said.
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