18:07 4 November 2026
Poland’s central bank leaves rates unchanged
Poland’s Monetary Policy Council held interest rates steady on Wednesday, keeping the National Bank of Poland’s reference rate at 3.75%. The decision followed a decline in annual consumer inflation to 3.5% in October from 4.1% in September, easing immediate pressure on policymakers. The deposit rate remains 3.25%, while the lombard rate stays at 4.25%. Most economists had expected the council to leave borrowing costs unchanged at its November meeting.
The decision offers a measure of stability to households and businesses assessing financing costs, although it does not guarantee cheaper loans in the near term. Policymakers must weigh softer headline inflation against risks from energy prices and the wider economic outlook. Attention now turns to the bank’s latest projections and comments from Governor Adam Glapiński, which could clarify whether the council sees room to reduce rates or prefers a prolonged pause.
Source: pb.pl
