Poland Central Bank Holds Key Policy Rate As Expected

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Wednesday, Poland's central bank kept its key policy rate unchanged for the fifth consecutive month in November. The rate decision was in line with economists' expectations.

The National Bank of Poland retained the reference rate at 3.50% on an annual basis. In June 24, the central bank had lowered its interest rate by 25 basis points from 3.75%.

The National Bank of Poland also maintained its lombard rate at 5%, deposit rate at 2% and rediscount rate at 3.75%

Poland's inflation rate continued to ease in October. The consumer price index or CPI rose 3.1% year-on-year in October, slower than the 3.4% growth in the previous month.

The jobless rate increased further in October. The unemployment rate rose to 11.1% in October from 10.9% in the previous month.

Poland's economy could start picking up only by the middle of 2010, as there were no signs of recovery in either private consumption or investment, Lars Christensen, chief analyst at Dankse Research said on November 11.

Wednesday, Poland's central bank kept its key policy rate unchanged for the fifth consecutive month in November. The rate decision was in line with economists' expectations. (Market News Provided by RTTNews)