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Investing.com -- The National Bank of Poland has decided to keep its interest rate steady at 5.75%, matching the predictions of analysts. This decision comes as the country’s annual inflation rate for February was reported at 4.9%, which is lower than the central bank’s earlier prediction of it peaking at 5.4% in the first quarter of the year.
The central bank’s target for inflation is set at 2.5%, with a flexibility of one percentage point in either direction.
Adam Glapinski, the governor of Poland’s central bank, stated last week that there is no reason to alter the interest rates at this time. He cited the strong growth in inflation, high wage dynamics, increased core inflation, and a progressing economic recovery as his reasons.
Meanwhile, Karol Nawrocki, a presidential candidate backed by the main opposition party, Law and Justice (PiS), has urged the Monetary Policy Council of Poland (RPP) to lower the interest rates. Rafal Trzaskowski, from the ruling coalition, the centrist Civic Coalition, and Szymon Holownia, a candidate from the centre-right Third Way, have also previously called for interest rate cuts on multiple occasions.
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