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Investing.com -- Poland’s central bank cut interest rates for the sixth time this year after inflation slowed more than expected and dropped below the central bank’s target.
The Monetary Policy Council of Narodowy Bank Polski (NBP) decided to decrease interest rates by 0.25 percentage points during its meeting on Tuesday and Wednesday, in line with market expectations.
The reference rate now stands at 4.00% annually, with the lombard rate at 4.50%, deposit rate at 3.50%, rediscount rate at 4.05%, and discount rate on bills of exchange at 4.10%.
This marks the fifth consecutive reduction as policymakers respond to declining inflation, which fell to 2.4% in November from 4.9% at the beginning of the year.
Since May, the Monetary Policy Council has reduced rates by a total of 175 basis points as part of its ongoing monetary policy adjustment.
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