National Bank of Poland expects GDP growth of 3.2 percent this year

Minutes of Polish central bank's Oct. 5 monetary policy meeting at which the central bank left its main rate unchanged at 1.5 percent were released on Thursday. Minutes showed that differences of opinion on the Polish rates panel continued.

Some members said interest rates should go down in order to boost economic growth and investments, while some said interest rates should go up if the economy sharply accelerates and the pace of consumer price growth is such that it risks coming near the 2.5 percent annual target.

The Monetary Policy Council (MPC) still sees stable rates as the most likely scenario despite the fact that the economic growth will likely be somehow slower than had originally been anticipated.

The central bank expects Polish economy to grow 3.2 percent this year. Price declines have been persistent in the Polish economy and inflation hasn’t hit the central bank's 2.5 percent annual target in years. Consumer prices fell 0.5 percent in annual terms in September.