Poland's Monetary Policy Council announced in a statement on Wednesday (October 5) it decided to leave the NBP interest rates on the same level as last month. This has been first such decision since October, 2021, when the series of interest rates increases began. Most experts were predicting another increase by 25 basis points. The main, reference rate has been set at 6.75%.
Last month, the Monetary Policy Council increased all interest rates by 25 basis points. The reference rate was increased from 6.50% up to 6.75%.
The series of recent increases in rates began in October of 2021 and ended in October, 2022. In that period, the Council would increase the interest rates each month, except for August, when the body did not convene.
On 5 October 2022, the Monetary Policy Council held a meeting at which it decided to keep the NBP interest rates unchanged:
- reference rate at 6.75% on an annual basis;
- lombard rate at 7.25% on an annual basis;
- deposit rate at 6.25% on an annual basis;
- rediscount rate at 6.80% on an annual basis;
- discount rate on bills of exchange at 6.85% on an annual basis.
Źródło: TVN24 News in English, nbp.pl
Źródło zdjęcia głównego: Pawel Bednarz/Shutterstock