We now know the projected CPI inflation readings for Poland in November. On a month-to-month basis, the reading came in at the same level as in the previous month, at 0.1%. On a year-on-year basis, however, the forecast fell by 0.4 percentage points—from 2.8% in October to 2.4% in November. Both readings are below expectations, which stood at 0.2% month-on-month and 2.6% year-on-year.
Lower-than-expected inflation forecasts and stronger economic data may push the Monetary Policy Council (RPP) toward a more hawkish stance. Under these conditions, it appears likely that the RPP may refrain from cutting interest rates at its December meeting. If this trend in readings continues in the coming months, the number of expected rate cuts in the first half of 2026 may decline—from the previously anticipated two or three, down to one or at most two.
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Source: ceo.com.pl/inflacja-cpi-w-polsce-nizsza-od-oczekiwan-12496
