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.
The National Bank of Poland (NBP) will consider reversing its low interest rates policy no earlier than in mid-2022, the NBP governor has said, defying calls to raise the rates amid record-high inflation.
Poland's central bank reported a PLN 9.3 billion (EUR 2.05 billion) profit in 2020 and will transfer about PLN 8.9 billion (EUR 1.96 billion) from that amount to the state budget, Adam Glapinski, head of the National Bank of Poland (NBP) has said.
Polish CPI is expected to rise in the coming months and could temporarily exceed the upper end of the 1.5-3.5 percent inflation target range, NBP governor Adam Glapinski told a news conference.
Adam Glapinski, the president of the National Bank of Poland told the “Sieci” weekly that he will be seeking re-election to the post.
In Europe, the Polish economy is one of the most resilient to crisis, the governor of Poland's central bank has said.
The president of the National Bank of Poland has ruled out the possibility of an increase in interest rates this year and 2022.
There are no indications of an inflation rise, National Bank of Poland (NBP) head Adam Glapinski said on Friday responding to rumours of an inflation outbreak in Poland.
The head of the National Bank of Poland has not out ruled further interest rate cuts in the first quarter of 2021, despite rates being at a record-low level.
Despite the huge scale of shock, losses and uncertainty caused by the coronavirus crisis, Poland's financial system is and will remain stable, according to Adam Glapiński, president of the National Bank of Poland (NBP).