The NBP cuts by 25 bps to a new historical low at 2.75 %
Final Hungarian GDP figure confirms a preliminary result
The Polish central bank matched our and market expectations as it cut interest rates by 25 basis points to a new all time low 2.75%. The NBP has already reduced its repo rate by a total of 200 basis points since November 2012. In its press release which accompanied the statement the NBP stressed that weaker-than-expected economic growth together with stronger decline in inflation as main factors standing behind the decision to cut rates. While Governor Marek Belka added that the easing cycle was approaching the end, he simultaneously indicated that there might come another rate cut.
Read the full report: FX Daily
KBC