Polish rate-setter Hardt says no need to cut rates further

There is no need to cut interest rates further, Polish rate-setter Lukasz Hardt was quoted as saying by mBank research department on Twitter on Friday.

Hardt was also quoted as saying that if current measures turn out to be insufficient, long-term repo operations at a yield lower than the reference rate for banks should be introduced.

Poland cut rates on Tuesday to 1% to counter the negative effect of a coronavirus epidemic on the economy.