Poland Interest Rate

The National Bank of Poland held its benchmark interest rate steady at 5.75% at its meeting on April 2, 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%. Inflation increased to 4.9% in March from 4.7% in February, well above the central bank's target range of 1.5-3.5%. Poland's central bank expects inflation to be 4.1-5.7% in 2025, 2.0-4.8% in 2026, and 1.1-3.9% in 2027, according to its March projections. This is slightly lower than its November 2024 forecast for 2025 (4.2-6.6%) and 2026 (1.4-4.1%). 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.