Interest Rate in Poland
Poland - Interest Rate
Central Bank stands pat at March meeting
As widely expected by market analysts, the National Bank of Poland (NBP) kept the reference rate unchanged at a record-low 1.50% at its 5–6 March monetary policy meeting. In addition, policymakers held the Lombard rate unchanged at 2.50%, the deposit rate at 0.50% and the rediscount rate at 1.75%. It has now been more than three years since the NBP last moved the reference rate.
The Bank took the decision against a backdrop of low inflation, softer economic activity and loose monetary conditions in the Eurozone. Moderating price pressures were reflected by January’s data on both headline and core inflation, while Q4’s slowdown in economic growth also supported the decision to hold rates. Going ahead, the Bank expects GDP growth to slow further and it sees inflation rising only mildly in the coming months, restrained by a freeze on electricity prices and contained oil prices. The NBP will thus likely hold fire for much of the year, with FocusEconomics expecting no rate hikes before 2020.
The next monetary policy meeting is scheduled for 2–3 April.
Poland Interest Rate Forecast
FocusEconomics Consensus Forecast analysts expect the reference rate to end 2019 at 1.55%. For 2020, the panel sees the rate ending the year at 1.92%.
Poland - Interest Rate Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Policy Interest Rate (%) | 2.50 | 2.00 | 1.50 | 1.50 | 1.50 |
Poland Interest Rate Chart
Source: National Bank of Poland.
Poland Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.88 | -0.30 % | Mar 11 |
| Exchange Rate | 3.82 | -0.53 % | Mar 11 |
| Stock Market | 59,470 | -1.13 % | Mar 11 |
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Economic News
Poland: Central Bank stands pat at March meeting
March 6, 2019
As widely expected by market analysts, the National Bank of Poland (NBP) kept the reference rate unchanged at a record-low 1.50% at its 5–6 March monetary policy meeting.
Poland: Manufacturing sector contracts sharply in February
March 1, 2019
The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, dropped to 47.6 points in February (January: 48.2 points).
Poland: Growth cools through last year-end
February 28, 2019
Poland’s economy grew 4.9% year-on-year in unadjusted terms in the fourth quarter of last year, according to a preliminary estimate released by the Statistical Office (GUS) on 28 February.
Poland: Business confidence recovers further in February
February 25, 2019
Manufacturing-sector business confidence recovered further in February, according to the business tendency indicators released by the Central Statistical Office (GUS).
Poland: Retail sales growth perks up in January
February 21, 2019
Nominal retail sales rose 6.6% year-on-year in January, up from December’s 4.7% rise.
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