The National Bank of Poland opted for a smaller-than-expected cut on Wednesday in a bid to maintain the value of the zloty. The move reflects the mounting concern among central and eastern European countries that marked currency depreciations could threaten stability.
The quarter-point cut leaves the benchmark reference rate at 4%, a two-year low. However, analysts had largely expected the central bank to slash rates by 50 basis points.
The zloty had lost 14.6% of its value against the euro b
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