Poland’s main interest rate has not been raised in February and the country’s rate-setting Monetary Policy Council (RPP) decided to leave it unchanged for the next eight months. This makes interest rate cuts unlikely as well in the near future, according to the head of the National Bank of Poland Marek Belka. Meanwhile, a member of the central banks’ board Zyta Gilowska said that “rate cuts are less likely than rate hikes.” The decision followed concerns over economic growth and inflation which appear to be higher than the central bank originally expected.
