WARSAW, Poland (AP) — Poland’s central bank lowered its key interest rate Wednesday, pointing to a drop in inflation despite a still-high rate of 8.2% last month, raising concerns about the cut being a political move.
The National Bank of Poland cut its benchmark rate a quarter of a percentage point to 5.75%.
It was the second rate cut since Sept. 9, when the central bank surprisingly slashed rates by three-quarters of a point.
That's far below Poland's 8.2% inflation rate.
Poland’s currency, the zloty, was slightly stronger after the rate cut.
Persons:
Adam Glapinski
Organizations:
National Bank of Poland, Inflation, European Central Bank, Law, Justice
Locations:
WARSAW, Poland, Ukraine