Adam Glapiński, President of the National Bank of Poland (NBP), announced that inflation will return to target levels in 2026. The central bank currently keeps the reference rate at 5.75%, unchanged since October 2023. Glapiński emphasized that significant interest rate cuts are unlikely until inflation decreases. He also noted that inflation may rise to around 5% by the end of 2024, driven by higher energy costs, with further inflationary pressure expected in early 2025. However, inflation should gradually decrease afterward, potentially reaching the 2.5% target by late 2026.
Rising wages are also a concern, as they could fuel inflation if not managed carefully.