Poland: Base Rate Down to Record Low

Politics ♦ Published: June 6, 2013; 12:46 ♦ (Vindobona)

Poland’s Monetary Council has cut the base rate to 2.75 percent.

Poland: Base Rate Down to Record Low / Picture: © NBP National Bank of Poland

The Monetary Council has cut the base rate by 0.25 percent to a record low of 2.75 percent. The biggest economy in Eastern Europe is struggling with the strongest downturn of the past four years.

On Wednesday the base rate cut was announced by the National Bank of Poland (NBP). Economists had counted on a rate reduction due to the lackluster economy in Poland. "Incoming data…