Poland holds rate at 1.5% amid global recovery, moderate inflation

By Susanna Moon

Chicago, Sept. 6 – The National Bank of Poland’s monetary policy council decided to maintain interest rates at 1.5% during a meeting held Tuesday and Wednesday.

“Despite ongoing global recovery, inflation abroad remains moderate, on the back of persistently low domestic inflationary pressure in many countries, alongside relatively stable global commodity prices,” according to a bank statement.

The European Central Bank has been holding interest rates near zero and has been continuing its asset purchase program, while the U.S. Federal Reserve is gradually tightening its monetary policy, the bank noted.

Inflation is expected to remain “moderate” in the coming quarters, as the economy improves and inflationary pressure ticks up, the bank said.

The bank kept interest rates unchanged at its meeting held in July.

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