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.
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The National Bank of Poland kept its main interest rate unchanged at 4% in February, as expected, extending a pause for a second month as policymakers wait for new macroeconomic forecasts before considering further easing. The decision matched market expectations, though views were split, with some analysts expecting a 25 basis point cut. Officials cited the lack of fresh inflation data and limited new information since the previous meeting. A new inflation projection will be published in March, allowing a clearer assessment of whether the recent disinflation trend is sustainable. Inflation slowed to 2.4% in December, near the midpoint of the central bank’s 1.5% to 3.5% target range, while final inflation figures for January and February will also be released in March following changes to the statistical basket.
