Central Banks

Poland to Hold Rates After Governor’s Hawkish Turn: Decision Guide

Central bank has kept benchmark at 5.75% since October 2023
Inflation to remain sticky as wage growth remains double-digit

Adam Glapinski
Photographer: Piotr Malecki/Bloomberg

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By Agnieszka Barteczko and Barbara Sladkowska

January 16, 2025 at 5:00 AM UTC

This article is for subscribers only.

Poland is likely to refrain from cutting interest rates for another month after the central bank governor turned unexpectedly hawkish and inflation has remained sticky.

The Monetary Policy Council will leave the benchmark at 5.75% on Thursday, according to all 32 economists surveyed by Bloomberg. Investors will focus on central bank Governor Adam Glapinski’s news conference on Friday to see whether he’s going to stick to his surprising new guidance from December that cuts are unlikely before 2026.