The accompanying statement to today’s Polish MPC meeting, at which interest rates were left unchanged, struck a dovish note. But it also stressed that the strength of the economy had eased policymakers’ concerns about deflation. And it emphasised that it would take a deterioration in the economic data, not inflation data, to trigger additional policy easing. If the latest economic surveys are anything to go by, it seems unlikely that the MPC will cut rates further over the coming months.
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