11.09.201909:21:00UTC+00Poland Central Bank Holds Key Rate Steady

Poland's central bank maintained its key interest rate at a record low on Wednesday, as widely expected.

The Monetary Policy Council decided to keep the key reference rate unchanged at a record low 1.50 percent, the National Bank of Poland said in a statement.

The previous change in the reference rate was a half-basis point reduction in March 2015.

The lombard rate was retained at 2.50 percent and the deposit rate at 0.50 percent. The rediscount rate was left unchanged at 1.75 percent.

Looking forward to the upcoming press conference by Poland central bankers, ING economist Rafal Benecki said the Council should maintain its bias for keeping interest rates unchanged.

Policymakers likely held an intense discussion on the effects of doubling the minimum wage and this could activate MPC hawks, leading to longer-term inflation outlook worries, the economist added.