NEWS
26th February 2009 - Central bank cuts interest rates by 0.25%
At the monthly sitting of the Polish central bank (NBP) yesterday, interest rates were cut by 0.25%. The reference rate now stands at 4%.
This move had a negative effect on the Polish zloty, which had been gaining a little since its lowest point a week ago, when the government announced its intention to take steps to support the weakening currency. The monetary policy committee of the NBP reiterated its support for the earliest possible entry of Poland to the ERM2 currency mechanism, leading to the adoption of hte EURO in Poland.
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