In March, Poland became the latest in a long line of countries to cut interest rates to a record low. The National Bank of Poland has since held the benchmark seven-day reference rate at 1.5% and given indications there will be no change for the foreseeable future. In July, Hungary's central bank cut its benchmark rate even lower, to 1.35%, with little chance of tightening before the middle of 2016.
For the typically conservative, deposit-favouring investors of central and eastern Europe, this
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