Zloty Pares Decline After Polish Central Bank Raises Rate

The zloty pared its decline against the euro after the Polish central bank raised the main interest rate for the fourth time this year.

The zloty traded 0.3 percent weaker at 3.9529 per euro as of 1:52 p.m. in Warsaw. Earlier, it depreciated as much as 0.6 percent against the euro. The Narodowy Bank Polski raised the benchmark seven-day interest rate by a quarter point to 4.5 percent, matching the expectations of 26 of 33 economists surveyed by Bloomberg.

To contact the reporter on this story: Piotr Skolimowski in Warsaw at pskolimowski@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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