NBP head hopes interest rates cuts will be possible in Q4

The President of the National Bank of Poland (NBP) and the Chairman of the Monetary Policy Council (MPC), Adam Glapiński, declared his hope that interest rate cuts would be possible in the fourth quarter of this year if there is certainty that inflation is under control and trending towards the inflation target. Glapiński emphasized that inflation is clearly decreasing and is expected to continue to decline by the end of the year. He stated that the high level of NBP interest rates continues to have an anti-inflationary effect and that if inflation is controlled and heading towards the target, rate cuts could support economic growth and provide relief for borrowers.

The MPC raised interest rates from October 2021 until September 2022 and has maintained them since then.

Source: forsal.pl