National Bank of Poland

May 17, 2017

Prior to November 2012, the Polish central bank reference interest rate had been 4.75%. 2.25 percentage points of monetary easing were implemented by July 2013, and two cuts of 50 basis points each in the first quarter of 2015 reduced the key rate to a record low of 1.5% where it has remained for the past 26 months. At the latest meeting, officials agreed to keep the interest rate at 1.5%, along with a lombard rate of 2.5% and a rediscount rate of 1.75%.

Polish growth remains ample, but inflation is still quite subdued. Real GDP climbed 1.0% last quarter and 4.1% over the past four quarters versus 2.8% in the year through the first quarter of 2016. CPI inflation has slipped to 2.0%, less than the 2.5% target.

Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

Tags:

ShareThis

This entry was posted on Wednesday, May 17th, 2017 at 8:05 am and is filed under Central Bank Watch. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.

css.php