The central bank of Poland (NBP) announced on Wednesday the raising of its main key rate to 6.75%, against 6.5% a month ago, in order to curb inflation which has exceeded the 16% mark.
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This is the eleventh successive rate hike of the NBP in ten months.
The discount rate, which refers to the interest rate at which commercial banks borrow cash by providing collateral for the receivables they hold, was raised to 6.85% and the Lombard rate, i.e. the interest rate applied by the central bank when granting loans to commercial banks on a day-to-day basis, was increased to 7.25%.
Consumer prices in Poland continued to rise in August, rising 16.1% year on year, after 15.5 in July, according to data from the National Statistics Office (GUS).