Narodowy Bank
National Bank of Poland
January 5, 2022
The National Bank of Poland engineered the first central bank interest rate hike of 2022, lifting such by 50 basis points yesterday to 2.25%. This was the fourth increase since October before which the rate had been just 0.10%. Polish CPI inflation of 7.8% is its highest of the 21st century and about five percentage […] More
National Bank of Poland
December 5, 2017
A statement released after this month’s Monetary Policy Council meeting exhibits no urgency to modify Poland’s 1.5% reference interest rate. The last changes to such were a pair of 50-basis point cuts in January and March of 2015. Before that, 225 basis points of easing were implemented from January 2012 to July 2013. The global […] More
National Bank of Poland
July 5, 2017
Poland’s 1.5% reference rate was retained after the latest review. It’s been at that level since 50-basis point cuts in January and March 2015. The rate had dropped to 2.5% from 4.75% between November 2012 and July 2013. Inflation and unit labor cost growth are moderate. While projecting inflation hovering near 2.0% and drifting a […] More
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 […] More
National Bank of Poland
July 6, 2016
This week’s monetary policy review in Poland left the central bank reference interest rate at 1.50%, its level since a 50-basis point cut in March 2015. There previously had been nine reductions engineered between November 2012 and January 2014 that cut the reference rate to 2.0% from 4.75%. A statement released after this week’s two-day […] More
Key Polish Central Bank Rate Left at 1.5%
June 8, 2016
The National Bank of Poland’s reference rate has been at 1.5% since cuts of 50 basis points each in January and March of 2015. Previously, 225 basis points of easing were administered between November 2012 and July 2013. A statement released after the latest meeting of the Monetary Policy Council observes that “with a negative […] More
National Bank of Poland Keeps Key 1.5% Interest Rate and Adopts New Macroeconomic Forecasts
March 11, 2016
Poland’s monetary policy interest rate was cut from 4.75% to 2.5% between November 2012 and July 2013, reduced by a further 100 bps in two increments during the first quarter of 2015, but not changed subsequently. The statement released after the latest policy meeting said this about inflation: Price growth will remain negative in the […] More
National Bank of Poland
February 3, 2016
Poland’s council of monetary policymakers last changed the key reference interest rate in March 2015. That move was a reduction as were nine changes totaling 275 basis points between November 2012 and January 2014. Poland has negative inflation but economic growth that’s somewhat faster than 3.0%. According to a released statement, deflation hasn’t impeded appropriate […] More
National Bank of Poland
November 4, 2015
Poland still has negative CPI and PPI inflation. The key central bank policy interest rate of 1.5%, lowest in nearly 5-1/2 years, was cut eight times by a total of 225 basis points between November 2012 and September 2013 to 2.5% and then lowered by another 50 bps in January 2014 and, most recently, 50 […] More
National Bank of Poland
October 8, 2014
A 15-month pause in interest rate cutting ended today. Poland’s Monetary Policy Council voted to cut its key reference rate by a greater-than-expected 50 basis points to 2.0%. The Lombard rate was trimmed to 3% from 4%, narrowing the corridor between its level and the deposit rate, which remains at 1.0%. The central bank’s rediscount […] More
