Poland cuts interest rates for fourth time as economy slows further

Poland’s Monetary Policy Council offered its fourth consecutive 25 bps cut to official interest rates, as macro data for December proved worse than already-depressed forecasts and domestic consumption declined more than at any time in the past 10 years.

Industrial output fell by 10.6 per cent year-on-year and retail sales defied forecasts for growth, falling 2.5 per cent year-on-year.

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(Photo: Marcin Rolicki/sxc.hu)