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Wage-Boom Plan Fails to Budge Poland’s Rates From Record Low

  • Benchmark interest rate left at 1.5%, as economists predicted
  • ING says solid GDP, inflation outlook keeps Poland from cuts
The headquarters of Poland's central bank in Warsaw.

The headquarters of Poland's central bank in Warsaw.

Photographer: Piotr Malecki/Bloomberg
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Surging inflation and a government plan to nearly double the minimum wage weren’t enough to make Poland abandon its pledge to keep borrowing costs at a record-low for the foreseeable future.

Buttressed by looser monetary policy in the world’s major economies, the central bank kept its benchmark interest rate at 1.5% on Wednesday. That was in line with analyst predictions and extends an unprecedented pause that began in 2015.