Poland's central bank left its key interest rates unchanged at a record low for the tenth consecutive month in May, amid subdued inflationary pressures.

The Monetary Policy Council of the National Bank of Poland on Wednesday maintained the key reference rate at 2.50 percent, in line with economists' expectations.

The previous change to the rate was in last July, when the rate was cut by 25 basis points, marking the end of a nine-month long easing cycle.

"We expect the Polish National Bank's Governor, Marek Belka, to reiterate the MPC's "forward guidance" at this afternoon's press conference, pledging to leave rates unchanged until at least the end of the third quarter of this year," Capital Economics Emerging Markets Economist William Jackson said.

The council also kept the lombard rate to 4.00 percent, the deposit rate at 1.00 percent and rediscount rate at 2.75 percent.

In March, inflation was unchanged at February's 0.7 percent. It was well below the central bank's annual inflation target of 2.5 percent.

Core inflation rose to 1.1 percent in March from 0.9 percent in the previous month.

The latest inflation expectations survey by the central bank showed that consumers surveyed in the first half of April expect prices to rise in the next 12 months at a slower pace than so far.

RTTNews