Poland’s Monetary Policy Council left interest rates unchanged, keeping the NBP reference rate at 3.75%. The decision was in line with market expectations, although only a few months ago September had been viewed as a possible date for another cut.
That scenario has become less likely as inflation pressures have strengthened again, while higher oil and fuel prices add uncertainty to the outlook. The central bank therefore has less room to ease policy without risking a renewed acceleration in price growth.
The next decisions will depend on incoming inflation data, wage and demand trends, energy prices and the broader geopolitical environment. For borrowers, the unchanged rate means no immediate additional reduction in financing costs.
This article is for information purposes only and does not constitute investment advice.
