Adam Glapiński made the comment at a news conference on Thursday. He told reporters Poland's inflation rate was the lowest in Central and Eastern Europe, making the country "the leader in disinflation."
Moreover, as of December 2025, none of the region's countries that had adopted the euro had a lower inflation rate than Poland, the central bank chief added.
At the same time, Poland enjoys the highest economic growth in the region, Glapiński said.
The central bank chief stated that "according to all forecasts, iPoland's inflation has returned to target for good, which had been our goal."
Inflation may drop further in the first quarter of 2026, though this will "depend on many factors," he added.
The NBP's inflation target is 2.5 percent, plus or minus one percentage point (1.5 - 3.5).
Glapiński said inflation fell thanks to lower energy prices and cheaper agricultural raw materials, which had an impact on food prices.
Moreover, the prices of services didn't rise as fast as before, which lowered core inflation.
At the same time, Glapiński noted, economic results have been relatively positive, with GDP growing by 3.6 percent, while retail sales and manufacturing figures showed an improvement in December, compared with the month before.
Glapiński said the Monetary Policy Council assumed inflation would remain within the target range in 2026, which paved the way for a discussion about further interest rate cuts.
The central bank chief said it was "naturally possible" that the reference rate would be lowered this year from 4 percent to 3.5 percent.
Asked if interest rates could be cut already in March, Glapiński replied that "unless something unforeseen happens externally, yes."
He added, however, that he held just one vote in the 10-member Monetary Policy Council.
It came after the Polish central bank's rate-setting Monetary Policy Council left interest rates unchanged on Wednesday, keeping the reference rate at 4 percent.
The panel last year cut rates by a combined 175 basis points amid signs of subsiding inflation.
(pm)
Source: PAP