NBP Holds Rates, Caution on Timing Rather than Direction
5 Articles
5 Articles
NBP holds rates, caution on timing rather than direction
The Monetary Policy Council’s decision to leave the reference rate unchanged at 4.00% confirms that January was a close call, with the accompanying statement reinforcing our view that this was a timing choice rather than a shift away from easing. The Council explicitly framed the decision against a backdrop of moderating domestic activity and declining inflation, while emphasising that future moves remain conditional on incoming data rather than…
The Monetary Policy Council (MPC) left interest rates unchanged at its meeting, the National Bank of Poland (NBP) announced in a press release. The NBP's key interest rate remains at 4%. The Polish Bank Association (ZBP) assessed the MPC's decision as "a reasonable and expected outcome."
The January meeting of the Monetary Policy Council did not result in further interest rate cuts. According to analysts' forecasts, 2026 will not see the cycle continue.
The Monetary Policy Council (MPC) decided to maintain the interest rates of the NBP at unchanged level.
The Monetary Policy Council's interest rate decisions have for years attracted the attention of not only economists but also investors and ordinary citizens. How currency markets and the stock market react to signals from the National Bank of Poland (NBP) can surprise even experienced players—and their short-term impact on euro and dollar exchange rates, or indices, may seem ambiguous. It's worth examining how the Monetary Policy Council's lates…
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