Poland Keeps Rates Steady at First Meeting After Election (1)

The National Bank of Poland kept interest rates on hold, as expected, and gave no indication whether last weekend’s pivotal presidential election will impact the outlook for further reductions in borrowing costs.

The Monetary Policy Council kept its benchmark at 5.25% on Wednesday, matching the forecasts of all but one of the 27 economists surveyed by Bloomberg News.

Investors will now scrutinize Governor Adam Glapinski’s comments — from his news briefing slated for Thursday afternoon — amid growing financial market concern regarding political gridlock and failure to tackle one of the European Union’s largest fiscal deficits following Sunday’s election. ...