Marek Belka, chief of NBPThe Monetary Policy Council raised Poland’s interest rates for the second consecutive month today, with a hike of the base rate of 0.25 percent.
The reference rate is now 4.25 percent.
The rise comes as a surprise to many analysts who were expecting rates to be on hold this month, though further hikes were expected later this year.
The rate-setting body will give its reasons for the unexpected hike later Wednesday afternoon, though inflationary preassures and wage increases are thought to be behind the move.
The zloty rose to 3.9009 against the euro following the announcement, a three year high against the single currency. (pg)