The MPC decided: That's right 18th month in a rowwhen the reference rate remains at the same level. The Monetary Policy Council (RPP) decided on Wednesday, March 12 to maintain interest rates at the current level (5.75 percent). So there is no surprise. This is a decision consistent with the expectations of economists. The level of foot depends, among others interest loans and deposit in PLN. On Thursday at 15 A press conference will start President of the NBP Adam Glapińskiduring which we will know the details of this decision.
When is the interest rate reduction? All economists surveyed by the Reuters agency assumed that the MPC would keep their feet at the current level. In their opinion The MPC will lower the feet in the third quarter of 2025.and by the end of this year the reductions can take a total of 75 base points. Also Geoff Gottlieb, a representative of the International Monetary Fund (IMF) in Poland is expecting loosening monetary policy in the second half of this year.
Inflation will fall, there will be a reduction: – Cuts may start in the second half of this year, but they should proceed quite slowly, taking into account all risks related to inflation. The final step in the matter of inflation has not yet happened, so it is important that not rush back to the neutral monetary position – explained Geoff Gottlieb. PKO chief economist Bank Polish Piotr Bujak believes, however, that talks about lower feet can start in April. This will be conducive to a gradual decrease in inflation, which should start in April. Inflation in January was 5.3 percent. Let us remind you that the inflationary of the MPP is 2.5 percent
Read also: “Adam Glapiński about the idea of the president of the Czech bank. “Told me about it in Jackson Hole '“.
Sources: NBPIAR