Poland: steady on the rates as recovery begins | beyondbrics

Poland: steady on the rates as recovery begins | beyondbrics:

"

No surprise from the National Bank of Poland’s rate-setting Monetary Policy Council on Wednesday after it decided not to budge from the current record low benchmark of 2.5 per cent.

With signs that the economy hit bottom in the first quarter of this year and has since been slowly recovering, the chances of any action on the part of the MPC were fairly minimal.

The MPC said in a statement: “Given low inflation pressure and a moderate scale of the expected recovery, in the Council’s assessment interest rates should be kept unchanged at least until the end of 2013, which will support return of inflation to the target in the medium term.”"

'via Blog this'