Interest Rate in Poland
Poland - Interest Rate
Central Bank stays put in April after March’s inflation dip
As anticipated by market analysts, the National Bank of Poland (NBP) decided to keep the reference rate at the record low of 1.50% at its 4–5 April monetary policy meeting. In addition, the Bank held its lombard rate at 2.50%, deposit rate at 0.50% and rediscount rate at 1.75%. The Bank has left the reference rate unchanged for two years now.
The NBP’s decision to leave rates unchanged comes on the back of a reversal in the inflation trend. Inflation dipped in March after surging in earlier months on the back of a rise in commodity prices. Global energy prices have stopped rising recently and core inflation remains moderate.
The Bank reiterated its wait-and-see stance in the statement, signaling a period of stable interest rates. The Bank emphasized that, “the current level of interest rates is conducive to keeping the Polish economy on the sustainable growth path and maintaining macroeconomic balance.”
Against this backdrop, the majority of our panelists expect the policy rate to end 2017 at the current level, with the Consensus at 1.55%. For 2018, the panel sees the rate ending the year at 1.99%.
Poland - Interest Rate Data
|Policy Interest Rate (%)||4.50||4.25||2.50||2.00||1.50|
5 years of economic forecasts for more than 30 economic indicators.
Poland Interest Rate Chart
Source: National Bank of Poland.
|Bond Yield||3.36||0.33 %||May 24|
|Exchange Rate||3.73||-0.88 %||May 24|
|Stock Market||60,812||0.67 %||May 24|
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May 25, 2017
In May, the manufacturing sector business climate index decreased from April’s multi-year high of 9.6 points to 8.1 points in May, according to the Business Tendency Survey released by the Central Statistical Office (GUS-BTS).
May 19, 2017
In April, industrial production swung to a 0.6% contraction from the same month last year, which marked a substantial decline compared to March’s 11.1% expansion.
May 19, 2017
In April, retail sales rose 8.1% over the same month of 2016, which marked a slowdown in growth from March’s 9.7% expansion.
May 16, 2017
Poland’s economy kicked into a higher gear in Q1, according to a flash estimate released by the Central Statistical Office of Poland on 16 May.
May 15, 2017
Consumer prices increased 0.3% in April over the prior month, contrasting March’s 0.1% drop.