MPC continues to cut borrowing rate

graphic: sxc.hu.

The reference rate is now at a record-low of 2.75 percent, with the lombard rate at 4.25 percent., deposit 1.25 percent and rediscount 3.00 percent.

The cut was in line with market expectations, with 23 of 24 economists surveyed by the PAP news agency predicting a cut in the cost of borrowing, as Poland's economy continues to slow after robust growth in recent years.

Since November last year, the MPC has cut rates by a total of 2.00 percentage points. (pg)