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Poland central bank holds interest rates

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Poland central bank holds interest rates

The Polish central bank decided to maintain its interest rates, including the 1.50% reference rate.

Narodowy Bank Polski kept the lombard rate at 2.50%, the deposit rate at 0.50% and the rediscount rate at 1.75%, each on an annual basis.

Annual consumer prices rose 2.2% in February and stabilized at 2% year over year in March and April, before declining to 1.8% in August, according to Reuters. The central bank targets a 2.5% inflation level.

The benchmark rate has remained at a record low of 1.50% since March 2015, with Governor Adam Glapinski saying in September that he expects to maintain rates until the end of 2018.

Poland's economy grew by 3.9% in the second quarter, Reuters reported.