The reference rate went up by 50 basis points to 6.5 percent, from 6 percent, amid rising inflation, which hit 15.6 percent in June, according to a flash estimate by the country's Central Statistical Office (GUS).
Poland's government last month began offering new high-yield savings bonds to the public to offset the impact of inflation.
Prime Minister Mateusz Morawiecki in the spring set out a range of policies to protect borrowers from the effects of inflation and rising interest rates.
He has told reporters that much of the inflation in the country is due to Russia's war against Ukraine, while also accusing Russia of seeking “to drive up inflation in Europe.”
Morawiecki said in late April: “Russia has not only made a brutal, murderous attack on Ukraine … it has assaulted the energy and food security of all of Europe.”
The Polish central bank in March predicted that inflation in the country would stand at 10.8 percent in 2022 on average, followed by 9 percent in 2023 and 4.2 percent in 2024.
Poland's government in mid-March came up with a raft of measures to mitigate the impact of Russia’s invasion of Ukraine on the Polish economy and society.
Central bank chief Adam Glapiński earlier this year vowed to do all it takes to ensure a lasting reduction in inflation.
(gs)
Source: PAP