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    An important decision of the Monetary Policy Council

    The Monetary Policy Council raised all interest rates by 0.5 percentage points. The reference rate rose from 1.75 percent to 2.5 percent.

    As announced by the Monetary Policy Council after the meeting, the Council decided to raise all NBP (National Polish Bank) interest rates by 0.5 percentage points. The MPC’s decision shall enter into force on January 5.


    According to Tuesday’s MPC decision, the reference rate rose to 2.25 percent, the lombard rate to 2.75 percent, the deposit rate to 1.75 percent, the rediscount rate to 2.3 percent, and the discount rate to 2.35 percent.


    This is the fourth NBP interest rates rise in the last four months.


    “Decisions of the Council in the coming months will continue to be aimed at reducing inflation to a level consistent with the NBP inflation target in the medium term, while taking into account economic conditions, so as to ensure medium-term price stability and at the same time support sustainable economic growth after the global pandemic shock,” the Monetary Policy Council wrote in its Tuesday communiqué.


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