Polish Central Bank Holds Key Policy Rate For Eighth Straight Month

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Wednesday, Poland's central bank kept its key policy rate unchanged for the eighth straight month in February. The rate decision came 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%.

Polish inflation accelerated in January. The consumer price index, or CPI, rose 3.6% year-on-year in January, faster than the 3.5% growth in the previous month.

The jobless rate increased further in January. The jobless rate stood at 12.7% in January, up from 11.9% in the previous month. However, retail sales increased 2.5% year-on-year in January, slower than the 7.2% growth in the previous month.

Wednesday, Poland's central bank kept its key policy rate unchanged for the eighth straight month in February. The rate decision came in line with economists' expectations. (Market News Provided by RTTNews)