RPP leaves interest rates on hold, but...

The Monetary Policy Council (RPP) yesterday decided to leave interest rates at the current level of 5.75% for the second month in a row. However, the news is no comfort for creditors, as the costs of loans has increased regardless of the recent RPP decisions.

According to Maciej Reluga BZ WBK chief economist, the market interest rates which directly effect the cost of mortgage loans are 0.3% higher then would follow from the policies of the National Bank.

This means that they are at an actual level as if the RPP increased the rates by 0.25%.

These figures are the result of the global financial crisis whereby banks have increasing problems of raising funds on international financial markets.

Sources: Rzeczpospolita, Parkiet