Interest Rate in Poland
Poland - Interest Rate
Central Bank holds its ground in June
As widely expected by market analysts, the National Bank of Poland (NBP) kept the reference rate unchanged at a record-low of 1.50% at its 4–5 June 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%. The Central Bank ended an easing cycle in March 2015 and has stood pat since then.
Unremarkable inflation and the European Central Bank’s loose monetary policy stance were behind the Bank’s decision. Although stronger price pressures fueled by rising oil and food prices were reflected by May’s data on headline inflation, which hit a one-and-a-half-year high, inflation remained below the midpoint of the Central Bank’s target range of 2.5% plus or minus 1.0 percentage point. Meanwhile, Q1’s national accounts show economic momentum was maintained in the first quarter, with growth easing only marginally, buttressed by buoyant consumer spending and strong investment activity.
Looking ahead, the Bank projects GDP growth to moderate further and sees inflation staying at a modest level in the coming months. Therefore, FocusEconomics analysts expect the Bank to keep the rate unchanged this year, as it balances higher inflation with weaker external demand and the ECB’s loose monetary stance.
The next monetary policy meeting is scheduled for 2–3 July.
FocusEconomics Consensus Forecast analysts expect the reference rate to end 2019 at 1.50%. For 2020, the panel sees the rate ending the year at 1.69%.
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 | 2.40 | -0.30 % | Jun 14 |
| Exchange Rate | 3.80 | -0.53 % | Jun 14 |
| Stock Market | 59,092 | -1.13 % | Jun 14 |
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Economic News
Poland: Inflation edges up in May
June 14, 2019
Consumer prices ticked up 0.2% month-on-month in May, following April’s 1.1% jump, according to data released by the Poland’s Statistical Institute (GUS).
Poland: Inflation inches up in May
June 5, 2019
According to data released by the Central Statistical Office (GUS), consumer prices ticked up 0.2% month-on-month in May, following April’s 1.1% jump.
Poland: Central Bank holds its ground in June
June 5, 2019
As widely expected by market analysts, the National Bank of Poland (NBP) kept the reference rate unchanged at a record-low of 1.50% at its 4–5 June monetary policy meeting.
Poland: Manufacturing sector still in contractionary territory in May
June 3, 2019
The manufacturing Purchasing Managers’ Index (PMI), released by IHS Markit, edged down to 48.8 points in May (April: 49.0 points).
Poland: Economy maintains strong momentum at beginning of 2019
May 31, 2019
Poland’s economy grew 4.7% year-on-year in unadjusted terms in the first quarter of this year, supported by strong domestic demand, according to a revised estimate released by the Statistical Institute (GUS) on 31 May.
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