The Monetary Policy Council in Poland raised the reference rate

The Monetary Policy Council in Poland raised the reference rate

The Monetary Policy Council (MPC) raised the reference rate to 3.50% from 2.75 %, the central bank said.  At 16.30 yesterday, the communiqué after the MPC meeting will be published, it was also announced.

Raised the reference rate to 3.50%

The market consensus predicted an increase in the reference rate by 75 bp.

“The Council set the NBP interest rates at the following level:

– reference rate of 3.5% on an annual basis;

– lombard rate to 4.00% on an annual basis;

– deposit rate 3.00% on an annual basis;

– rediscount rate at 3.55% on an annual basis;

– discount rate to 3.60% on an annual basis;

The resolution of the MPC comes into force on March 9, 2022 “- it says  in the press release.

Press conference with the president of the National Bank of Poland

On Wednesday at 15:00, a press conference of the president of the National Bank of Poland (NBP) who has some very busy days and the chairman of the MPC Adam Glapiński is planned.

The MPC raised interest rates for the first time in October 2021, including the reference rate to 0.5% from 0.1%. In November, it raised the reference rate to 1.25%, in December – to 1.75%, in January 2022 – to 2.25%, in February this year. – up to 2.75%.

Source: Stooq Photo by Free Images on Flickr.

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