Poland raises rates a quarter point

The National Bank of Poland increased rates by a quarter point on Wednesday.

The benchmark reference rate now stands at 6%, its highest level since March 2005.

The decision, which was widely expected, follows two straight rate holds. However, the central bank has raised borrowing costs on three occasions earlier this year.

The central bank's decision comes after CPI inflation rose to 4.4% in the year to May, up from 4% the previous month [hyperlink]. The measure has outpaced the central bank'