Polish central bank cuts interest rates

Poland's central bank announced a cut in interest rates Wednesday, moving to stimulate the sluggish economy after inflation fell to a record low.

A monthly meeting of the National Bank of Poland policy board decided that the benchmark 28-day intervention rate would fall to 6.5 percent from 6.75 percent, effective Thursday. The rate defines what the bank believes should be the upper limit of interest rates on short-term loans.

The bank also cut the Lombard rate to 8.5 percent from 8.75 percent a