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Interest rates – July 2023. The Monetary Policy Council has made a decision, MPC communiqué

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Interest rates unchanged. The Monetary Policy Council (RPP) decided to keep the NBP interest rates unchanged, it was announced in a Thursday communiqué. The decision is in line with economists’ expectations. The reference rate will remain at 6.75 percent.

On Thursday, the two-day decision-making meeting of the Monetary Policy Council ended. Main, reference interest rate since September 8, 2022, it has remained at the level of 6.75%.

The July meeting was the tenth in a row when the MPC did not change interest rates. This decision was in line with market expectations. Economists believe that if rate cuts take place this year, this will happen only in the second half of the year. In this context, the two most common dates are September and November. Some economists believe that the conditions for cuts will appear next year.

Schedule of MPC decision-making meetings in 2023:

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  • September 5-6,
  • October 3-4,
  • November 7-8,
  • December 5-6.

A one-day non-decision-making meeting is scheduled for August.

Main photo source: tvn24.pl

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