National Bank of Poland’s Interest Rate Sliced 25 Basis Points to 4.75% – Currency Thoughts
National Bank of Poland’s Interest Rate Sliced 25 Basis Points to 4.75%
September 3, 2025
Poland’s three central bank interest rate reductions since May total 100 basis points. A single percentage point of easing also was done at consecutive policy reviews in September and October of 2023, and the new 4.75% policy rate level is its lowest since May 2022 and compares to a 6.75% peak that was maintained for a year between Septembers 2022 and 2023. A released statement justifies today’s action by the drop of consumer price inflation to 2.8% last month from 3.1% in July and 4.9% in each month of this year’s first quarter. 2.8% is close to the midpoint of the central bank’s 1.5-3.5% inflation target band and thus keeps the real interest rate sufficiently restrictive for these precarious geopolitical times.
Copyright 2025, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: National Bank of Poland
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