Polonia Tasa De Interés

The National Bank of Poland held its reference rate at 5.75% in its January 2025 meeting, as widely expected by financial markets, to hold the benchmark’s level unchanged since October of 2023. The decision aligned with the hawkish rhetoric outlined by Governor Glapinski in the last meeting, who signaled that the reference rate is unlikely to be lowered until the end of 2025 due to the persistent threat of inflation and the strength in the dollar due to a hawkish Fed. The signal was given as the Monetary Policy Council noted that energy price caps will expire this year, set to boost inflation and prevent the central bank from cutting rates. While the latest inflation print was softer than expected in December, it remained above the NBP’s target range for a sixth month.