National Bank of Poland interest rates in June 2025

6 June 2025

On June 3-4, 2025, the Monetary Policy Council held a meeting during which it decided to keep the National Bank of Poland interest rates unchanged.

Current National Bank of Poland interest rates:

reference rate at 5.25% on an annual basis;
lombard rate at 5.75% on an annual basis;
deposit rate at 4.75% on an annual basis;
rediscount rate at 5.30% on an annual basis;
discount rate on bills of exchange at 5.35% 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 2025 amounted to 4.1% (compared to 4.3% in April 2025). Lower inflation was mainly driven by the further decline in fuel prices amid lower global oil prices. Considering the Statistics Poland data, it can be estimated that in May 2025 inflation net of food and energy prices decreased slightly, whereas services price growth remained elevated. The earlier increases in the administered energy prices together with continuously heightened annual growth in prices of food and non-alcoholic beverages translate into still elevated level of CPI inflation.”

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.

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