Polish interest rates remain at 2.5% in July

As expected, Poland’s monetary council has left interest rates untouched at 2.5 percent. This comes despite an earlier statement from National Bank president Marek Belka saying that “the promise of leaving interest rates at the same level may soon be over.” The Polish monetary council, however, has not said when or if it would lower interest rates. “This doesn’t mean that the market should expect to see the move in September. Moreover, the possibility of this to happen is very low, but we will be adjusting our decision to the current economic conditions,” Belka said.