MPC raises reference rate by as much as 75 bp to 3.50%

The Monetary Policy Council (MPC) raised the reference rate to 3.50% from 2.75%, the central bank reported. Other interest rates The Council set the NBP interest rates at the following level: the lombard rate at 4.00%, the deposit rate at 3.00%, the rediscount rate at 3.55%, and the discount rate at 3.60% – all on an annual basis.

The MPC raised interest rates for the first time in October 2021, including the reference rate to 0.5% from 0.1%. In November, it raised the reference rate to 1.25%, in December – to 1.75%, in January 2022 – to 2.25%, in February this year – up to 2.75%.

(ISBnews)