March 16, 2020 / 4:42 PM / 14 days ago

Polish says recommends rate-setting panel cuts rates

WARSAW, March 16 (Reuters) - The Polish central bank’s management board said on Monday it is recommending the rate-setting panel to cut its reserve requirement rate as well as interest rates, in a move seen as a pre-emptive measure aimed at fighting any potential negative effects of the spread of coronavirus.

“The central bank governor has said he would propose that the Monetary Policy Council cuts interest rates. The central bank’s management board supports such a decision,” it said in a statement.

It also said the banks plans big-scale purchases of treasury bonds on the secondary market. (Reporting by Marcin Goclowski and Anna Koper; editing by Justyna Pawlak)

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