Polish MPC cuts rates by 25 bps

Poland's Monetary Policy Council (MPC) cut all interest rates by 25 bps, in tune with market expectations, the Polish Central Bank announced after the end the MPC's two-day meeting on Wednesday.

The MPC cut its reference rate by 25 bps to 5.75 percent, the deposit rate to 5.25 percent, the lombard rate to 6.25 percent, rediscount rate to 5.80 percent and the discount rate to 5.85 percent.

Central Bank (NBP) governor Adam Glapińki will hold a press conference at 1500 hrs on Thursday.

The decision met economists expectations for a small cut of 25 bps.

In September, MPC cut interest rates by 75 bps.

Poland's MPC paused hiking interest rates after raising its reference rate to 6.75 percent in September 2022, for months adopting a wait-and-see approach before officially ending the tightening cycle only in July.