The Monetary Policy Council Did Not Change Interest Rates
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The November meeting of decision-makers at the Polish central bank delivered a decision that hundreds of thousands of mortgage holders had been anxiously awaiting. Although pressure on household budgets continues unabated, the latest announcement from Świętokrzyska Street in Warsaw provides at least a temporary reprieve.
The Monetary Policy Council (MPC) maintained the National Bank of Poland (NBP) interest rates at its meeting concluded on Wednesday, the NBP announced. The Polish central bank's main interest rate, the reference rate, remains at 3.75%. According to the NBP statement, the MPC did not change interest rates. The NBP's main interest rate, the reference rate, remained at 3.75%.
The Monetary Policy Council decided to maintain the NBP reference rate at 3.75%, leaving the cost of money...
At its meeting concluded on Wednesday, the Monetary Policy Council set the reference rate at 3.75% for the next month, the National Bank of Poland (NBP) announced. The market expects rates to rise soon. Banks are already adjusting fixed interest rates on loans to reflect this risk.
The end of one of the more tense and unpredictable Monetary Policy Council meetings this year. The fate of the cost of money in Poland hung in the balance at Świętokrzyska Street, and with it the monthly installments of hundreds of thousands of Polish families repaying mortgages.
Although inflation in Poland has slowed down, banks are starting to raise interest rates on mortgages. The November decision of the RPP may affect the amount of installments, the creditworthiness of Poles and the sale of apartments.
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