Poland keeps key interest rate at 3.75% — RMF24

Poland’s Monetary Policy Council left all interest rates of the National Bank of Poland unchanged at its meeting on Wednesday. The key, or reference, rate remained at 3.75%.

All rates unchanged

As RMF24 reports, the decision applies to all NBP rates. The deposit rate stands at 3.25%, the lombard rate at 4.25%, the bill rediscount rate at 3.8%, and the bill discount rate at 3.85%.

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Significance of the reference rate

The reference rate is crucial for the cost of money in the economy and interest on some loans. This year, the Monetary Policy Council has lowered interest rates once: at the beginning of March, they were cut by 0.25 percentage points.

The National Bank of Poland reported that the rates were maintained at their previous level. The decision was made after the Monetary Policy Council’s meeting ended on Wednesday.