Poland Monetary Policy


Central Bank leaves interest rates unchanged in June

At its 5-6 June monetary policy meeting, the Central Bank left its reference rate unchanged at 4.75%, in line with market expectations. Last month, policymakers had opted to raise interest rates by 25 basis points, the first such move since June 2011, in order to combat persistent above-target inflation. The National Bank of Poland (NBP) stated that global economic growth remains subdued, accompanied by a stagnation in the Euro area. Moreover, the Bank noted that the situation in financial markets has deteriorated since the previous meeting in May, leading to a depreciation of the Polish zloty. On the domestic side, the Bank pointed out that GDP data from the first quarter of this year


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

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