Good news for Polish borrowers and entrepreneurs. The Monetary Policy Council (RPP) has decided to ease monetary policy, which will translate into lower debt servicing costs. At the meeting concluded on Wednesday, it was decided to cut all interest rates of the Narodowy Bank Polski by 0.25 percentage points. As a result, the main reference rate has fallen below the 4 percent threshold.
This afternoon, the National Bank of Poland published a statement following the Monetary Policy Council meeting, which is certain to please those repaying mortgage loans in zlotys. Monetary policymakers decided to reduce the cost of money in Poland. In line with the Council’s decision, the main interest rate – the reference rate – was reduced from 4 percent to 3.75 percent.
The decision is comprehensive and covers the entire set of instruments at the central bank’s disposal. As reported by NBP, the 0.25 percentage point cut also applies to the other rates. From now on, the lombard rate will stand at 4.25 percent per annum, while the deposit rate has been set at 3.25 percent.
The adjustment also includes bill-related rates. The rediscount rate has been reduced to 3.8 percent, and the discount rate to 3.85 percent.
This move should contribute to lower rates on the interbank market, providing a positive impulse for the entire economy.
The changes will come into effect almost immediately. According to the central bank’s statement, the new rate table will apply as of Thursday, March 5. For household budgets, this means the prospect of lower loan installments in the coming months.