Narodowy Bank

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

National Bank of Poland

September 3, 2014

Poland’s record-low 2.5% interest rate was maintained.  It’s been at that level since a 25-basis point cut in July 2013, which culminated 225 basis points of easing going back to November 2012.  Analysts think a further reduction could occur as soon as next month because inflation, which is expected to run only marginally above zero […] More

css.php