Poland Keeps Key Interest Rate Unchanged
- Central bank keeps benchmark rate at 5.75%; Glapinski to brief
- Markets seek clarity as central bank chief warns of risks
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Poland’s central bank left its benchmark interest rate unchanged for the fourth consecutive month as markets and policymakers weigh whether inflation risks warrant bringing a monetary easing cycle to an end.
The rate-setting Monetary Policy Council kept the benchmark on hold at 5.75%, as expected by all 35 economists surveyed by Bloomberg. The panel said in a statement that while in the first quarter inflation is likely to fall markedly, price growth may increase significantly in the second half of 2024 “should higher VAT on food products be restored and energy prices raised.”