Poland cuts key interest rate by 75 points

WARSAW, Dec. 23 (Chinese media) -- Poland's Central Bank cut its key lending rate by 75 basis points to 5 percent on Tuesday in a bid to counter the current economic slowdown.

The cut is the biggest since January 2001 and the first that has happened in the month of December since 1998.

Polish Prime Minister Donald Tusk said the move would undoubtedly help the government carry out policies to counter the ongoing global financial crisis.

Vice Prime Minister and Minister of Economy Waldemar Pawlak said the cut would have positive effects on next year's economic development and predicted more cuts.