17:18 23 July 2026
Rate cut questioned
Ludwik Kotecki, a member of Poland’s Monetary Policy Council, has warned that it is too early to assume interest rates will be reduced in September. He argued that the inflation environment is beginning to diverge from the National Bank of Poland’s latest projection, particularly because rising oil and fuel prices could feed through to transport costs and consumer prices.
The comments challenge market expectations of further monetary easing after the summer. For businesses and households, any delay would mean borrowing costs remain elevated for longer, affecting mortgages, corporate loans and investment decisions. Kotecki’s intervention also highlights the sensitivity of Polish monetary policy to external energy shocks, even as domestic inflationary pressures and wage growth show signs of moderating.
Source: pb.pl
