The National Bank of Poland held its benchmark reference rate at a record low of 1.5 percent during its first meeting of 2020, even after inflation rate jumped to 3.4 percent in December, its highest level since October 2012 and above the central bank’s medium-term target of 2.5 percent. Also, the Lombard rate and the deposit rate were kept steady at 2.5 percent and 0.5 percent, respectively, and the rediscount rate was left unchanged at 1.75 percent.

Interest Rate in Poland averaged 6.66 percent from 1998 until 2020, reaching an all time high of 24 percent in March of 1998 and a record low of 1.50 percent in March of 2015. This page provides - Poland Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: National Bank of Poland

Interest Rate in Poland is expected to be 1.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Poland to stand at 1.75 in 12 months time. In the long-term, the Poland Interest Rate is projected to trend around 1.75 percent in 2020, according to our econometric models.


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Poland Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.50 24.00 1.50 1998 - 2020 percent Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-10-02 11:00 AM 1.5% 1.5% 1.5% 1.5%
2019-11-06 01:45 PM 1.5% 1.5% 1.5% 1.5%
2019-12-04 01:40 PM 1.5% 1.5% 1.5% 1.5%
2020-01-08 01:10 PM 1.5% 1.5% 1.5% 1.5%
2020-02-05 12:00 PM 1.5% 1.75%


News Stream
2019-12-04
Poland Leaves Monetary Policy Unchanged
The National Bank of Poland held its benchmark reference rate at a record low of 1.5 percent on December 4th 2019, as expected after inflation edged up to 2.6 percent near the central bank’s medium-term target of 2.5 percent. Also, the Lombard rate and the deposit rate were kept unchanged at 2.5 percent and 0.5 percent, respectively, and the rediscount rate was left unchanged at 1.75 percent.

2019-11-06
Poland Leaves Rates on Hold in November
The National Bank of Poland held its benchmark reference rate at a record low of 1.5 percent on November 6th 2019, as expected after annual inflation fell to the central bank’s medium-term target of 2.5 percent. Also, the Lombard rate and the deposit rate were kept unchanged at 2.5 percent and 0.5 percent, respectively, and the rediscount rate was left unchanged at 1.75 percent.

2019-10-02
Poland Holds Key Interest Rate at 1.5%
The National Bank of Poland held its benchmark reference rate at a record low of 1.5 percent on October 2nd 2019, as expected fell to 2.6 percent, close to the central bank’s medium-term target of 2.5 percent. Also, the Lombard rate and the deposit rate were kept unchanged at 2.5 percent and 0.5 percent, respectively, and the rediscount rate was left unchanged at 1.75 percent.

2019-09-11
Poland Holds Interest Rate Steady at 1.5%
The National Bank of Poland held its benchmark reference rate at a record low of 1.5 percent on September 11th 2019, as expected after inflation rate fell to 2.8 percent, close to the central bank’s medium-term target of 2.5 percent. Also, the Lombard rate and the deposit rate were kept unchanged at 2.5 percent and 0.5 percent, respectively, and the rediscount rate was left unchanged at 1.75 percent.

2019-07-03
Poland Leaves Monetary Policy Unchanged
The National Bank of Poland held its benchmark reference rate at a record low of 1.5 percent on July 3rd 2019, as expected after inflation rate rose to 2.6 percent in June, its highest since November of 2012 and slightly above the central bank’s medium-term target of 2.5 percent. Also, the Lombard rate and the deposit rate were kept unchanged at 2.5 percent and 0.5 percent, respectively, and the rediscount rate was left unchanged at 1.75 percent.

2019-06-05
Poland Leaves Monetary Policy Unchanged
The National Bank of Poland held its benchmark reference rate at a record low of 1.5 percent on June 5th 2019, as expected, after inflation rate rose to 2.3 percent in May, the highest level since November of 2017 and slightly below the central bank's medium-term target of 2.5 percent. Also, the Lombard rate and the deposit rate were kept unchanged at 2.5 percent and 0.5 percent, respectively, and the rediscount rate was left unchanged at 1.75 percent.


Poland Interest Rate
In Poland interest rates decisions are taken by the National Bank of Poland (Narodowy Bank Polski, NBP). The official interest rate is the Reference Rate.

Poland Money Last Previous Highest Lowest Unit
Interest Rate 1.50 1.50 24.00 1.50 percent [+]
Money Supply M0 303891.50 266019.90 303891.50 10909.00 PLN Million [+]
Money Supply M1 1154867.39 1109059.44 1154867.39 63625.70 PLN Million [+]
Interbank Rate 1.61 1.61 29.58 1.55 percent [+]
Money Supply M2 1552642.94 1530381.44 1552642.94 138755.50 PLN Million [+]
Money Supply M3 1565639.80 1542584.08 1565639.80 139333.86 PLN Million [+]
Foreign Exchange Reserves 128405.00 119829.40 128405.00 3485.70 USD Million [+]
Banks Balance Sheet 2111367.60 2092536.50 2113165.40 208191.90 PLN Million [+]
Deposit Interest Rate 0.50 0.50 7.50 0.50 percent [+]
Loans To Private Sector 308537.81 308641.89 310009.61 53996.69 PLN Million [+]
Private Debt to GDP 120.60 120.90 127.00 51.90 percent [+]
Cash Reserve Ratio 3.50 3.50 5.00 3.00 percent [+]
Central Bank Balance Sheet 508882.90 492767.60 508882.90 84966.50 PLN Million [+]