The interest rates did not move. Expert: This decision will not please borrowers

On June 3-4, 2025, a meeting of the Monetary Policy Council was held. The effect of the meeting is the decision to maintain interest rates of the National Bank of Poland at the current level.

“The Council decided to maintain NBP interest rates at an unchanged level,” we read in a message published today. This means that the main reference rate is still 5.25 percent.

– In my opinion it is a good decision. The Monetary Policy Council today left interest rates unchanged, which – in current circumstances – is fully justified. Let me remind you that only a month ago they were reduced by 0.5 percentage points – notes Piotr Juszczyk, the main tax advisor of Infakt in an interview with “Wprost”.

Expert: “For borrowers, this decision may be disappointing”

As the expert notes, inflation does not decrease in an unequivocal and permanent way – we are still observing some instability and risks associated with price pressure.

– Of course, for borrowers this decision may be disappointing, but remember that the main goal of monetary policy is to master inflation – it is it who drains the wallets of Poles the most. Maintaining the status quo allows you to exercise caution and gives space for further observation of inflation trends and the economic situation – both in Poland and on global markets. I expect further foot discounts in the summer, especially if macroeconomic data do not favor optimism. There is also one more decision to reduce in late autumn – says Piotr Juszczyk.

What is the amount of NBP interest rates?

After a two -day meeting, the Council decided to keep the NBP interest rates at an unchanged level:

• reference rate 5.25 percent on an annual basis,

• Lombard rate 5.75 percent on an annual basis,

• deposit rate 4.75 percent on an annual basis,

• Redskonta rate of bills of exchange 5.30 percent on an annual basis,

• Discount rate of bills of exchange 5.35 percent on an annual basis.