12:08 11 July 2025
Polish MPC Agrees on Need to Cut Interest Rates Further. Target Set at 3.5%
In July, Poland’s Monetary Policy Council (RPP) lowered interest rates for the second time this year, cutting them by 25 basis points to 5.0 percent. The move was described as an “adjustment,” though further cuts are expected in the coming months.
“The Council is largely in agreement that rates will and should continue to fall,” said MPC member Ireneusz Dąbrowski, adding he supports a short pause before starting a full easing cycle, possibly in the third or the fourth quarter of 2025.
The target rate is 3.5 percent. Economists note that the current level is still relatively high, given that inflation hasn’t exceeded 5 percent this year and stayed below 4.5 percent in the second quarter of 2025.
NBP President Adam Glapiński has emphasized that the recent decisions are adjustments, not necessarily the start of a full cycle, though he has not ruled it out. Future decisions will depend on inflation trends and wage growth.
(Newseria)
