Why Poland's MPC held rates

According to minutes published on Friday, Poland's Monetary Policy Council (RPP) decided at its meeting on 25 and 26 September that as the medium term probability of inflation running above the inflation target (2.5% year-on-year) had fallen there was no need for a fourth rate hike this year.

The Council kept the interest rates unchanged: the reference rate at 4.75%, the Lombard rate at 6.25%, the deposit rate at 3.25% and the rediscount rate at 5.00%. The RPP raised the rates in April, June