Iceland, Romania and Serbia hold, while Poland cuts rates
High food inflation continues to affect eastern Europe
The Central Bank of Iceland and the National Bank of Romania both held rates on October 8, at 7.5% and 6.5% respectively, while the National Bank of Poland (NBP) eased policy by 25 basis points to 4.5%. The National Bank of Serbia today (October 9) held rates at 5.75%.
Iceland: still on holdIn justifying its decision to hold, the Central Bank of Iceland said inflation had been 4.1% in September, 0.3 percentage points higher than in August, thanks to “unfavourable base effects”. The central bank
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