US EditionPolish Central Bank Holds Rates but Cuts Seem Imminent Later This Year
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MSNPolish central bank holds rates but cuts seem imminent later this year
The decision to hold follows a cut of 50bp in May, the first reduction in NBP’s interest rates since 2023. The Polish inflation rate came in at 4.1% y/y in May, easing from 4.3% y/y the preceding month.
National Bank of Poland interest rates in June 2025
On June 3-4, 2025, the Monetary Policy Council held a meeting during which it decided to keep the National Bank of Poland interest rates unchanged. Current National Bank of Poland interest rates: reference rate at 5.25% on an annual basis; lombard rate at 5.75% on an annual basis; deposit rate at 4.75% on an annual basis; rediscount rate at 5.30% on an annual basis; discount rate on bills of exchange at 5.35% on an annual basis. In the post-meet…
The tone of the conference by NBP President Adam Glapiński was quite hawkish. Rate cuts from July are very uncertain, ING Bank Śląski economists point out.
In May 2025, the Polish housing market was at a specific turning point. The National Bank of Poland's reference rate was still 5.75% at the beginning (later 5.25%), and the market was waiting for the first decision in almost two years to reduce it, scheduled for the MPC meeting on 6-7 May. The high, although already stabilizing cost of money translated directly into loan installments and the mood of potential buyers. Many households were startin…
The National Bank of Poland decided not to change the base interest rate - it remains at 5.25%.
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