Poland Monetary Policy


Central Bank stays put in July

At its 3-4 July monetary policy meeting, the Central Bank left its reference rate unchanged at 4.75%, a decision that was in line with market expectations. The National Bank of Poland (NBP) stated that global economic growth is weakening amid decelerating economic activity in major emerging economies, moderate growth in the United States and a stagnation in the Euro area. However, the Bank noted that the situation in financial markets has stabilized somewhat since the previous meeting in June, leading to an appreciation of the Polish zloty. On the domestic side, the Bank stressed that recent indicators confirm


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Poland Monetary Policy Chart

Poland Monetary Policy June 2012

Note: NBP Reference Rate in %.
Source: National Bank of Poland (NBP).

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