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Article: Monetary Policy Council lops 25 bps off main interest rate, cuts two other rates by 50 bps.
- Article from:
- Poland Business News
- Article date:
- February 26, 2003
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Monetary Policy Council lops 25 bps off main interest rate, cuts two other rates by 50 bps
Warsaw. February 26. INTERFAX-EUROPE - The National Bank of Poland's Monetary Policy Council announced Wednesday a quarter-percentage point cut to its main intervention rate and a half-point cut to two other rates, the central bank said in a statement published at the conclusion of its February sitting on Wednesday.
As a result of the cuts, the central bank's basic intervention rate drops to 6.25% from 6.50%, the Lombard emergency funds rate comes down to 8.00% from 8.50% and the rediscount rate moves down to 6.75% from 7.25%. The commercial deposit rate will stay ...