The MPC surprised the interest rates. What does this mean for borrowers?

The MPC reduced interest rates to 5 percent. Expert: This is a relief for borrowers, but a signal about economic slowdown.

From 1 to 2 July 2025 a meeting of the Monetary Policy Council (MPP) was held. Its effect is the decision that millions of Poles were waiting for. The Council decided to lower the NBP interest rates by 0.25 points. percent This means that the main reference rate is 5.00 percent. on an annual basis.

– The Monetary Policy Council surprised the market by deciding to reduce interest rates – notes Piotr Juszczyk, the main tax advisor of Infakt in an interview with “Wprost”.

Expert: “For borrowers, this means lower installments”

As the expert notes, the MPC decision has broader consequences for the economy and the financial market.

– It is a signal that in the opinion of the MPC, inflationary pressure remains under control, and the weakness of economic growth becomes a greater threat. For borrowers, this means lower installments – especially those with a variable interest rate. However, it is worth remembering that such a decision can also translate into further weakening of the zloty and can be negatively assessed by foreign investors. It will be important how the Council justifies this decision in the context of the situation on the labor market and price dynamics – says Piotr Juszczyk.

What is the current amount of NBP interest rates?

After a two -day meeting, the Council decided to lower the NBP interest rates:

reference rate – 5.00 percent on an annual basis,
Lombard rate – 5.50 percent on an annual basis,
deposit rate – 4.50 percent on an annual basis,
Bill of exchange rates – 5.05 percent on an annual basis,
Discount rate of bills of exchange – 5.10 percent on an annual basis.

The resolution of the Monetary Policy Council enters into force on July 3, 2025.

Previous RPP decision – interest rates in June.

It is worth recalling that at the previous meeting, which took place on June 3-4, 2025, the Monetary Policy Council decided to maintain interest rates at an unchanged level. The main reference rate was still 5.25 percent. on an annual basis.

The amount of interest rates after the June decision: