The National Bank of Poland held its benchmark reference rate at 6.75% on November 9th, 2022, defying market expectations of a 25bps hike to 7%, saying GDP is expected to be lower in the coming quarters. It was the second consecutive meeting of no changes in rates after a long tightening cycle that began in October 2021 to combat inflation, amid mounting growth worries. The annual inflation rate in Poland accelerated to 17.9% in October of 2022, the highest in 26 years, well above the central bank’s target range of 2.5% ± 1pp. The central bank expects inflation to slowly return to the target. According to the bank's forecasts, inflation will be in a range of 14.4-14.5% in 2022, 11.1-15.3% in 2023, and 4.1-7.6% in 2024. Looking at growth, the central bank projects GDP at 4.3-4.9% in 2022, at -0.3-1.6% in 2023, and at 1.0-3.1% in 2024. source: National Bank of Poland
Interest Rate in Poland averaged 6.18 percent from 1998 until 2022, reaching an all time high of 24.00 percent in March of 1998 and a record low of 0.10 percent in May of 2020. This page provides - Poland Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Poland Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.
Interest Rate in Poland is expected to be 6.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Poland Interest Rate is projected to trend around 6.00 percent in 2023, according to our econometric models.