September 6, 2017 / 2:08 PM / a year ago

Polish reiterates it expects "moderate" inflation ahead

WARSAW, Sept 6 (Reuters) - Poland’s inflation will likely remain at a “moderate” level in the coming quarters, the central bank’s rate-setting Monetary Policy Council (MPC) said on Wednesday, explaining its decision to keep interest rates at an all-time low.

“In the opinion of the Council inflation will remain moderate in the coming quarters,” the MPC said in a statement.

“This will be facilitated by gradually increasing internal inflation pressure accompanied by a lowering of dynamics of import prices resulting from an expected stabilisation of energy commodity prices and low inflation pressure abroad,” it said.

The bank also reiterated that the current level of borrowing costs, with the key rate at 1.50 percent since March 2015, has helped keep Poland on a path of balanced economic growth. (Reporting by Bartosz Chmielewski; Writing by Marcin Goettig)

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