US EditionPoland’s NBP cuts key rate by 50bp to 5.25% for first time since 2023
- The National Bank of Poland cut its key interest rate by 50 basis points to 5.25% on May 8, 2025, marking the first reduction since October 2023.
- The cut followed slowing inflation and weakening economic activity, with inflation at 4.2% in April and wage growth slowing to 7.7% in March.
- The NBP attributed the inflation slowdown to fading high base effects from last year's food price hikes, lower fuel prices, and a weaker US dollar.
- The Monetary Policy Council stated the rate cut became justified considering lower inflation, wage growth, and weaker economic data, with economists expecting further gradual easing.
- The move suggests the council will monitor incoming data closely, with some forecasting a pause at the June meeting before possible additional cuts later in 2025.
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Poland cuts interest rates for first time since 2023 citing weaker economy activity and slowing inflation
Keep our news free from ads and paywalls by making a donation to support our work! Notes from Poland is run by a small editorial team and is published by an independent, non-profit foundation that is funded through donations from our readers. We cannot do what we do without your support. Poland’s central bank has cut its benchmark interest rate for the first time since October 2023, citing slowing inflation and weakening economic activity as gro…
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