POLAND : In Surprise Move...C.Bank Raises Benchmark...To 4.75%.

http://www.bloomberg.com/news/2012-05-09/polish-central-bank-unexpectedly-raises-interest-rates.html


     Unexpectedly...Warsaw's central bank has raised its benchmark interest rate...by 25 bps...to 4.75%...the highest rate since January 2009.
    The c.bank says the benchmark was increased because for 18 months...inflation had exceeded the 3.5% upper limit...well above the 2.5% target.
   The zloty declined again. 
   It is down 3.6% vs the euro since March.