Surprise? We know the Monetary Policy Council’s decision on interest rates
During the November meeting, the Monetary Policy Council decided on the level of interest rates for the near future.
Monthly meetings of the Monetary Policy Council evoke a lot of emotions. Analysts assess in advance whether interest rates will remain unchanged or increase or decrease. In recent years, the meetings of the Monetary Policy Council are constantly associated with the head of the NBP, i.e. prof. Adam Glapiński, who is associated with his long speeches during which he explains the complex world of economics to Poles.
Interest rates. November 2024
There was no surprise for most experts on the subject. The Monetary Policy Council again maintained the main reference rate at 5.75 percent, in line with market expectations. Earlier it was signaled that nothing should change in this matter until the end of the year.
Interest rates. Impact on loans
The decision to maintain high interest rates may have significant consequences for the credit market. Interest rate cuts are unlikely to occur in the next two years, which will impact the creditworthiness of potential borrowers and the availability of new loans.
Interest rates. How much were they recently?
Here is a summary of the reference rate of the National Bank of Poland (NBP) from January 2023 to October 2024:
- January 2023: 6.75 percent
- February 2023: 6.75 percent
- March 2023: 6.75 percent
- April 2023: 6.75 percent
- May 2023: 6.75 percent
- June 2023: 6.75 percent
- July 2023: 6.75 percent
- August 2023: 6.75 percent
- September 2023: 6.00 percent (0.75 percentage point reduction)
- October 2023: 5.75 percent (0.25 percentage point reduction)
- November 2023: 5.75 percent
- December 2023: 5.75 percent
- January 2024: 5.75 percent
- February 2024: 5.75 percent
- March 2024: 5.75 percent
- April 2024: 5.75 percent
- May 2024: 5.75 percent
- June 2024: 5.75 percent
- July 2024: 5.75 percent
- August 2024: 5.75 percent
- September 2024: 5.75 percent
- October 2024: 5.75 percent
