Poland makes surprise cut on signs of slowdown

The National Bank of Poland cut rates for the first time in more than two-and-a-half years on fears that the global slowdown would hamper export demand.

The Monetary Policy Council's quarter-point cut leaves the benchmark reference rate at 5.75%. The decision follows five straight rate holds and is the first cut since March 2006.

A minority of analysts expected the move, but most believed rates would remain on hold until the new year.

Annual inflation fell again in October, but at 4.2% is sti

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