Poland surprises market with rate cut

POLAND - Poland's central bank took markets by surprise on Wednesday with a half-point cut in interest rates, its third policy easing in as many months.

The bank cut its main rate to 7 per cent from 7.5 per cent and cut its Lombard rate by a full percentage point to 9 per cent, Polish News Bulletin reported, a move analysts said hinted at further rate cuts to come. The bank's discount rate was cut to 7.75 per cent.

The bank has cut interest rate rates by a full 12 percentage points in less than

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