The Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, increased the reference interest rate by 25 basis points, to 6.75% on September 7.
The National Bank of Poland’s lombard rate was raised from 7.00% to 7.25%, the rediscount rate from 6.55% to 6.80% and the discount rate from 6.60% to 6.85%.
At the same time, the RPP also increased the deposit rate from 6.00% to 6.25%.
The latest hike is the eleventh in a row, and is seen by economists as a reaction to rising inflation and the weakening national currency. (The First News/Business World Magazine)
