3:37 8 November 2024
NBP hints at rate cut
The National Bank of Poland (NBP) may implement an initial interest rate cut of 50 basis points if inflation shows a sharp projected decline, said NBP President Adam Glapiński at a recent press conference. Glapiński, who also chairs the Monetary Policy Council (MPC), stated that the decision will depend on upcoming inflation forecasts. "If inflation appears to be declining rapidly, we might cut by 50 basis points," he noted. However, if inflation slows gradually, rate cuts would likely proceed in 25-basis-point increments. The MPC recently paused rate adjustments, maintaining the reference rate at 5.75%, following a cumulative 100 basis points reduction in September and October 2023. Glapiński anticipates further discussions on monetary easing after the next inflation projection is released in March.
