Poland Interest Rate

The National Bank of Poland held its benchmark interest rate steady at 5.75% at its meeting on February 5th, 2025, as widely anticipated, prolonging an interest rate pause since October 2023. The Lombard and deposit rates also remained unchanged at 6.25% and 5.25%. NBP Governor Adam Glapinski said recently there is no room for monetary policy changes for now and any discussion about potential rate cuts must be delayed, as inflation remains above target and risks persist. Inflation stood at 4.7% in December 2024, unchanged from the prior month but still well above the central bank's target range of 1.5-3.5%. Meanwhile, the economy accelerated to 2.9% last year with recent data suggesting a return to growth in the fourth quarter following a contraction in the previous three months.