Poland slashes on "considerable" slowdown

The National Bank of Poland cut rates by 75 basis points to their lowest level since April 2007 on Tuesday, citing flagging growth and lower inflation.

Analysts had largely expected a half-point move. But the central bank said the scale of the economic slowdown and its likely impact on prices warranted more aggressive action.

The cut leaves the central bank's benchmark reference rate at 4.25%.

Data had, the central bank said, been "slowing considerably." Labour market statistics pointed to a

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