Poland Cuts Rates as Worst GDP Slowdown in 12 Years Looms

Poland’s central bank cut its main interest rate by more than economists estimated to a record low as the worst economic slowdown in 12 years looms after consumer spending plunged amid Europe’s debt crisis.

The Narodowy Bank Polski lowered the benchmark seven-day reference rate by 50 basis points to 3.25 percent today. None of the 38 economists surveyed by Bloomberg predicted the move, with the median forecast a quarter-point cut.