Polish interest rates are at the right level, says central bank's Kochalski

Credit: REUTERS/Peter Andrews

Polish interest rates are at the right level and should remain unchanged in light of low expected inflationary pressures and limited possibilities of a swift economic recovery, PAP news agency quoted central banker Cezary Kochalski as saying on Monday.

Corrects typo in headline

WARSAW, Sept 21 (Reuters) - Polish interest rates are at the right level and should remain unchanged in light of low expected inflationary pressures and limited possibilities of a swift economic recovery, PAP news agency quoted central banker Cezary Kochalski as saying on Monday.

Poland's central bank slashed its borrowing cost three times since the start of the pandemic by a cumulative 140 basis points, bringing its key interest rate to a record low of 0.1%.

"Until we enter the path of stable and sustainable development, interest rates should remain at the current level," Kochalski told PAP.

(Reporting by Agnieszka Barteczko; Editing by Alex Richardson)

((agnieszka.barteczko@thomsonreuters.com; +48226539700; Reuters Messaging: agnieszka.barteczko.reuters.com@thomsonreuters.net))

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