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Poland leaves interest rates unchanged

04.02.2026 16:15
The Polish central bank's rate-setting Monetary Policy Council left interest rates unchanged on Wednesday, keeping the reference rate at 4 percent.
The Warsaw headquarters of the National Bank of Poland (NBP).
The Warsaw headquarters of the National Bank of Poland (NBP).Photo: Andrzej Barabasz, CC BY-SA 4.0 , via Wikimedia Commons

The panel last year cut rates by a combined 175 basis points amid signs of subsiding inflation.

Poland's central bank chief, Adam Glapiński, said last month that inflation was expected to stay within the National Bank of Poland's target range throughout 2026.

He told reporters that the downward trend appeared to be "durable," pointing to inflation holding near the 2.5 percent target, with a tolerance band of 1 percentage point.

Inflation stood at 2.4 percent in Poland in December in year-on-year terms, according to an estimate by the country’s statistics office.

Next year, Polish inflation is expected to average 3 percent, under the country's budget signed by the president last month.

The Polish central bank predicted in its latest Inflation Report, released on November 7, that inflation would average 2.9 percent in 2026, followed by 2.5 percent in 2027.

(gs)

Source: IAR, PAP, nbp.pl