The Polish central bank’s Monetary Policy Council on Wednesday left interest rates unchanged.

The decision was in line with what analysts had expected.

The reference rate remains at 1.50 percent, the lombard rate at 2.50 percent, the deposit rate at 0.50 percent and the rediscount rate at 1.75 percent.

The last time the Monetary Policy Council cut interest rates was in March 2015.

At the time, after trimming rates by 50 basis points, the council said the move was “closing a cycle of monetary policy easing.”