National Bank of Poland interest rates in June 2024

6 June 2024

On June 4-5, 2024, the Monetary Policy Council held a meeting during which it decided to keep the interest rates unchanged.

Current National Bank of Poland interest rates:

reference rate at 5.75% on an annual basis
lombard rate at 6.25% on an annual basis
deposit rate at 5.25% on an annual basis
rediscount rate at 5.80% on an annual basis
discount rate at 5.85% on an annual basis

In the post-meeting release, the Monetary Policy Council notes:
“According to the Statistics Poland flash estimate, annual CPI inflation in May 2024 was 2.5% (against 2.4% in April 2024). In May 2024, annual energy price growth, including 1/2 fuels, increased. In turn, annual growth in prices of food and non-alcoholic beverages declined slightly. Considering the Statistics Poland data, it can be estimated that inflation net of food and energy prices decreased again in May 2024. In April 2024, the annual fall in producer prices remained significant, which confirms the fading of most external supply shocks and a reduction of cost pressures. Together with the relatively low – despite some acceleration – economic activity growth, it limits the growth in consumer prices. The Council judges that inflation is also curbed by the appreciation of the zloty exchange rate, which is consistent with the fundamentals of the Polish economy.”

If you have any further questions or require additional information, please contact your business relationship person or use the enquiry form on the HLB Poland website.

***

This publication is non-binding information and serves for general information purposes. The information provided does not constitute legal, tax or management advice and does not replace individual advice. Despite careful processing, all information in this publication is provided without any guarantee for the accuracy, up-to-date nature or completeness of the information. The information in this publication is not suitable as the sole basis for action and cannot replace actual advice in individual cases. The liability of the authors or getsix® are excluded. We kindly ask you to contact us directly for a binding consultation if required. The content of this publication iis the intellectual property of getsix® or its partner companies and is protected by copyright. Users of this information may download, print and copy the contents of the publication exclusively for their own purposes.