Poland: Central Bank leaves interest rates unchanged for ten months
April 4, 2012
At its 3-4 April monetary policy meeting, the Central Bank left its reference rate unchanged at 4.50% for the tenth consecutive month, in a move that was widely expected by the market. The National Bank of Poland (NBP) stated that global economic growth remains low, accompanied by a recession in the Euro area. On the domestic side, the Bank stressed that recent economic indicators ?signal some weakening of economic growth?. In addition, the Central Bank maintained its view that ?in the medium term, inflation will be curbed to some extent by the expected economic slowdown amid moderate wage growth as well as continued fiscal tightening.?