Poland's Monetary Council leaves all interest rates unchanged

Poland's reference interest rate will remain at 0.10 percent, the country's Monetary Policy Council (RPP) said in a statement after a meeting on Wednesday.

It also means that the National Bank of Poland's lombard rate will remain at 0.50 percent, the deposit rate at 0.00 percent, and the rediscount rate at 0.11 percent.

At its meetings, held between March 17 and May 28, 2020, the Monetary Policy Council cut the reference rate three times by a total of 140 bps to the present 0.10 percent.

On Friday, June 11 at 15:00 an online press conference is planned with National Bank of Poland President Adam Glapiński.

Economists polled by PAP Biznes in early June revised their forecast towards earlier and more aggressive interest rate rises by the Monetary Council. According to four out of the 20 surveyed, a normalisation of policy may start in 2021 while 11 expected the reference rate to stand at 0.75 percent or higher in early 2022.