Poland keeps interest rates unchanged
The Polish central bank’s rate-setting Monetary Policy Council left interest rates unchanged on Wednesday, keeping the reference rate at 5.75 percent.
The Warsaw headquarters of the National Bank of Poland (NBP).Photo: PAP/Tomasz Gzell
Earlier this year, the panel slashed key interest rates by a combined 100 basis points, amid signs of subsiding inflation.
In late 2021 and last year, the Monetary Policy Council had delivered a string of rate hikes in an effort to contain surging consumer prices.
Inflation in Poland stood at 6.5 percent last month, down from 6.6 percent in October, according to a flash estimate by the country’s statistics office.
Poland’s central bank chief, Adam Glapiński, said last month that the country’s interest rates were unlikely to rise anytime soon.
He told reporters at the time that if Polish interest rates were to change, they would be more likely to go down than up, public broadcaster Polish Radio’s IAR news agency reported.
„I cannot imagine the rates being hiked now,” Glapiński stated at a news conference in Warsaw on November 9.
The Polish central bank said in its latest Inflation Report, released on November 10, that inflation would average at 11.4 percent this year, followed by 4.6 percent in 2024 and 3.7 percent in 2025.
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Source: IAR, PAP
