National Bank of Poland Interest Rate Outlook

NBP Governor Glapinski indicates that current interest rates are sufficient to control inflation, signaling a prolonged pause in rate changes. ING expects rates to remain steady through the end of 2026.

Key Takeaways

• 1.NBP Governor Adam Glapinski views current interest rates as adequate to stabilize inflation and expects a holding pattern.
• 2.May inflation was lower than expected at 3.1% YoY, reducing the risk of further rate hikes.
• 3.ING forecasts interest rates to remain unchanged until at least the end of 2026.

Table of Contents

• Background to June policy decision
• Economic conditions
• Inflation and monetary policy outlook
• Summary
• Author
• Disclaimer

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