Poland leaves interest rates unchanged

The Polish central bank's Monetary Policy Council left interest rates unchanged on Thursday, 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 at 4 percent and the deposit rate was unchanged at 3.25 percent, the National Bank of Poland (NBP) said.

Komunikat prasowy z posiedzenia Rady Polityki Pieniężnej w dniach 8-9 kwietnia 2026 r. ⬇️https://t.co/XOJkhow03h

— Narodowy Bank Polski (@nbppl) April 9, 2026

The panel last month cut interest rates by 25 basis points, citing easing inflation.

Last year, the Monetary Policy Council cut rates six times by a combined 175 basis points.

Inflation stood at 3.1 percent year-on-year in March, up from 2.1 percent in February, 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 7, 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