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  • Poland's central bank lowered its key interest rate by 0.4 percentage points, taking it down to a record low 0.1 percent, as the country seeks to limit the economic impact of the coronavirus pandemic. It was the NBP's third cut since March 17, with the central bank having previously held the rate steady for two years as the country continued its uninterrupted streak of annual growth since shucking a communist planned economy 30 years ago. However Poland may now be heading for recession as its economy contracted by 0.5 percent in the first quarter compared with the final quarter of last year. A recession is often defined as two consecutive quarters of a quarter-on-quarter contraction. bo/rl/wai
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  • Poland lowers interest rate to record low 0.1%
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