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Poland's central bank maintains rates


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Poland's central bank maintains rates

Poland's central bank decided to keep the country's reference rate unchanged at 1.50%, saying that level is "conducive" to maintaining the economy on a sustainable growth path and macroeconomic stability.

Narodowy Bank Polski also maintained the lombard rate at 2.50% and the deposit rate and rediscount rate at 0.50% and 1.75%, respectively.

Estimates showed annual GDP growth of 5.1% in the first quarter, while consumer price growth remains moderate, the bank noted.

"[C]urrent data continue to point to a favourable outlook for economic activity growth in Poland, despite the expected slight slowdown in GDP growth in the coming years," the bank said. "In line with the available forecasts, inflation will remain close to the target in the monetary policy transmission horizon."