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.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Poland Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-09-07 01:20 PM Interest Rate Decision Sep 6.75% 6.5% 6.75% 6.75%
2022-10-05 01:45 PM Interest Rate Decision Oct 6.75% 6.75% 7% 7%
2022-11-09 05:25 PM Interest Rate Decision Nov 6.75% 6.75% 7% 7%
2022-12-07 03:00 PM Interest Rate Decision Dec 6.75% 6.75%
2022-12-09 03:00 PM Monetary Policy Meeting Minutes


Related Last Previous Unit Reference
Interest Rate 6.75 6.75 percent Nov 2022
Interbank Rate 7.22 7.22 percent Nov 2022
Money Supply M1 1570743.51 1584066.20 PLN Million Oct 2022
Money Supply M0 466523.90 473697.90 PLN Million Oct 2022
Money Supply M2 2057872.21 2052456.50 PLN Million Oct 2022
Money Supply M3 2071258.22 2062087.26 PLN Million Oct 2022
Foreign Exchange Reserves 151682.40 151595.20 USD Million Oct 2022
Banks Balance Sheet 2826600.43 2792573.53 PLN Million Aug 2022
Deposit Interest Rate 6.25 6.25 percent Nov 2022
Central Bank Balance Sheet 909022.90 946069.40 PLN Million Oct 2022
Cash Reserve Ratio 3.50 3.50 percent Oct 2022
Loans to Private Sector 308537.81 308641.89 PLN Million Jun 2016

Poland Interest Rate
In Poland interest rates decisions are taken by the National Bank of Poland (Narodowy Bank Polski, NBP). The official interest rate is the Reference Rate.
Actual Previous Highest Lowest Dates Unit Frequency
6.75 6.75 24.00 0.10 1998 - 2022 percent Monthly

News Stream
Poland Holds Interest Rate Steady for 2nd Meeting
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.
2022-11-09
Poland Unexpectedly Keeps Main Rate at 6.75%
The National Bank of Poland held its benchmark reference rate at 6.75% on October 5th 2022, defying market expectations of a 25bps hike to 7%. This marks the first pause after a long tightening cycle that began in October 2021 to combat inflation, amid mounting growth worries. Policymakers said that a further slowdown of GDP growth is forecast for the coming quarters, while the economic outlook is subject to significant uncertainty. Meanwhile, the annual inflation rate in Poland accelerated to 17.2% in September of 2022, the highest in 26 years, well above the central bank’s target range of 2.5% plus or minus one percentage point. The Council said that the significant monetary policy tightening will contribute to curbing demand growth in the Polish economy, which will support a gradual decline in inflation towards the NBP inflation target. The Bank reiterated that its decisions will remain driven by data and by the impact of the ongoing war in Ukraine on the Polish economy.
2022-10-05
Poland Rises Interest Rate to 6.75%
The National Bank of Poland raised its benchmark reference rate by 25bps to 6.75% on September 7th, in line with market expectations and bringing borrowing costs to the highest since 2003. It was the smallest rate increase since the central bank launched a policy tightening cycle last October in an effort to curb rising inflation, as the latest monthly data signal that economic activity growth in Q3 will decelerate and a further slowdown of GDP growth is forecast for the coming quarters. The council noted that NBP interest rates increases, fading of the impact of shocks currently boosting prices together with economic activity growth slowing down, will contribute to a gradual decline in inflation in the coming years.
2022-09-07