National Bank of Poland

October 5, 2016

The last change in Poland’s reference interest rate was a cut of 50 basis points in March 2015 to a record low of 1.5%. Officials at the NBP agreed at their latest policy review to keep that level, observing in a released statement that

  • Growth continues at a steady pace.
  • Deflation still exists but has been lessening gradually.
  • Inflation will remain low even thereafter because of low inflation abroad, a negative domestic output gap, and subdued inflation expectations.

Prior to November 2012, the reference interest rate had been 4.75%. But July 2013 it was down to 2.5%. two more reductions followed, one of 50 basis points in January 2014 and the aforementioned easing in March 2015.

Copyright 2016, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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