18:40 4 December 2025
Adam Glapinski: there is still a chance for increased inflation
NBP President Adam Glapiński said inflation is expected to remain within the bank’s target range, with core inflation dropping below 3%, its lowest in six years. Although a slight price increase may occur early next year, falling electricity tariffs could further ease inflation. Glapiński pointed to weakening wage pressure and strong GDP growth but warned of risks: elevated service prices, intensified EU-fund spending, and a high public-finance deficit nearing 7% of GDP. Recent rate cuts totalling 175 bps reduced debt-service costs but do not signal a policy cycle.
With the reference rate at 4%, the Monetary Policy Council plans a cautious “wait and see” stance before considering further adjustments.
(pb.pl)
