RPP keeps interest rates unchanged

In line with expectations, the Monetary Policy Council (RPP) has decided to keep interest rates unchanged.

The NBP’s reference rate stands at 1.5 percent, the lombard rate at 2.50 percent, the deposit rate at 0.50 percent and the rediscount rate at 1.75 percent.

In March 2015, the RPP lowered interest rates by 0.5 basis points. Since then, they have remained unchanged.

According to RPP head Adam Glapiński the situation won’t change this year and the next if the current central bank economic forecasts will be accurate. “If the inflation rate will remain near the lower threshold of 1.6 percent I don’t see need to raise the rates in 2018 as well,” Glapiński said. He previously stated that in 2017, rate hikes won’t be needed.

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