March 17, 2020 / 3:03 PM / 22 days ago

Poland cuts interest rates, reference rate down 50 bps to 1%

WARSAW, March 17 (Reuters) - Poland’s central bank on Tuesday cut its benchmark interest rate to 1.0% from 1.5%, in a move to counteract the negative economic effects of the spread of coronavirus.

The central bank, which ended an easing cycle in March 2015, also cut its lombard rate to 1.50% from 2.50%, and the rediscount rate to 1.05% from 1.75%.

The bank also said it will release a statement at 1530 GMT. (Reporting by Anna Koper; editing by Marcin Goclowski)

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