MPC raises benchmark rate to 6% as expected

The Monetary Policy Council decided on 8 June to raise the NBP reference rate by 75 base points to 6.0 percent, in line with market expectations. The lombard rate will increase to 6.50 percent, the deposit rate to 5.50 percent, the rediscount rate to 6.05 percent, and the discount rate for bills of exchange to 6.10 percent. This was the ninth consecutive MPC meeting with a rate hike. Since October 2021, the MPC has raised the benchmark rate by a total of 590 base points.

Before the meeting, 17 centers surveyed by PAP Biznes expected the MPC to raise interest rates in June by 75 base points.

(PAP)