Poland leaves interest rates unchanged

The Polish central bank's Monetary Policy Council left interest rates intact on Wednesday, keeping the reference rate at 3.75 percent.

The Warsaw headquarters of the National Bank of Poland (NBP).

Photo: Andrzej Barabasz, CC BY-SA 4.0 , via Wikimedia Commons

The Lombard rate remained unchanged at 4 percent and the deposit rate held steady at 3.25 percent, the National Bank of Poland (NBP) said.

Rada Polityki Pieniężnej na zakończonym w środę posiedzeniu utrzymała stopy procentowe NBP na dotychczasowym poziomie. Główna stopa procentowa polskiego banku centralnego, stopa referencyjna, nadal wynosi 3,75 proc.https://t.co/bEydSzHBJQ

— tvp.info 🇵🇱 (@tvp_info) May 6, 2026

The Monetary Policy Council in March lowered interest rates by 25 basis points, citing easing inflation.

Last year, the panel cut rates six times by a combined 175 basis points.

Inflation stood at 3.2 percent year-on-year in April, up from 3 percent in March, according to a flash estimate by Poland’s statistics office.

Inflation is expected to average 3 percent this year, under the country's 2026 budget signed by the president in January.

In its latest Inflation Report, released on March 6, the Polish central bank predicted that inflation would average 2.3 percent in 2026, followed by 2.4 percent in 2027 and 2.3 percent in 2028.

(gs)

Source: IAR, PAP, nbp.pl