Today, the Monetary Policy Council (Rada Polityki Pieniężnej, RPP) decided to lower interest rates. Further reductions are expected soon, according to the chief economist of the Business Centre Club (BCC), Prof. Stanisław Gomułka.
At the July meeting, the RPP lowered interest rates by 25 basis points. As a result, the reference rate now stands at 5.00%, down from the previous 5.25%. The lombard rate was set at 5.50% annually, the deposit rate at 4.50%, the rediscount rate of bills of exchange at 5.05%, and the discount rate of bills of exchange at 5.10%.
“Today’s decision by the RPP seems justified and is not surprising. I expected the reference rate to decrease by about 0.25 percentage points. I also foresee a further decline—to around 4% by the end of next year. This is partly related to the forecasted drop in inflation, which in 2025 may fall slightly below 4%,” commented Prof. Stanisław Gomułka, chief economist of BCC and Finance Minister in the Business Centre Club’s Economic Shadow Cabinet.
The expert also notes that according to projections, the annual GDP growth rate in 2025 will most likely range between 2.9% and 4.3%.
Source: https://ceo.com.pl/prof-gomulka-czekaja-nas-kolejne-ciecia-stop-procentowych-37314
