July 6, 2020 / 7:59 AM / a month ago

Polish MPC voted seven to one to cut rates in April

WARSAW (Reuters) - Seven Polish rate-setters voted in favour of cutting the cost of borrowing at the April 8 meeting of the Monetary Policy Council (MPC), according to Poland’s online court and economic register (IMSIG).

At that sitting the 10-member MPC unexpectedly cut the benchmark interest rate by 50 basis points to 0.5%.

The seven members who voted in favour of the cut were President Adam Glapinski, Grazyna Ancyparowicz, Cezary Kochalski, Jerzy Kropiwnicki, Eryk Lon, Rafal Sura and Jerzy Zyzynski. Lukasz Hardt voted against the cut.

Poland has cut rates by a cumulative 140 basis points to 0.1% since the coronavirus reached the country in June.

Reporting by Pawel Florkiewicz and Alan Charlish; Editing by Gareth Jones

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