On April 3-4, 2024, a meeting of the Monetary Policy Council took place, during which it was decided to keep the interest rates unchanged.
Current National Bank of Poland interest rates:
- reference rate at 5.75% on an annual basis
- lombard rate at 6.25% on an annual basis
- deposit rate at 5.25% on an annual basis
- rediscount rate at 5.80% on an annual basis
- discount rate at 5.85% on an annual basis
In the post-meeting release, the Monetary Policy Council emphasizes:
“In subsequent quarters, inflation developments are, however, associated with substantial uncertainty, related in particular to the impact of fiscal and regulatory policies on price developments, as well as the pace of economic recovery in Poland and labour market conditions. Should energy prices be raised, inflation might increase significantly in the second half of 2024. Alongside that, over the medium term, demand pressure in the economy will be stimulated by wage growth, stemming i.a. from wage increases in the public sector.”
