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MNI NBP WATCH: Rates Hold Expected, But Easing Debate Nears

The National Bank of Poland will decide on interest rates later this week.

MNI (LONDON) - The National Bank of Poland is universally expected to keep rates unchanged on Wednesday in line with guidance and as inflation remains persistently above target, with a focus on the accompanying language amid disagreement on the Monetary Council about when to discuss cuts.

Governor Adam Glapinski said rates could stay unchanged until 2026 after the NBP held the reference rate at 5.75% for the 10th month in a row in July, but other members have suggested cuts might begin earlier, with Ludwik Kotecki saying a large majority of members see potential for a discussion about easing by as early as the first quarter of 2025.

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MNI (LONDON) - The National Bank of Poland is universally expected to keep rates unchanged on Wednesday in line with guidance and as inflation remains persistently above target, with a focus on the accompanying language amid disagreement on the Monetary Council about when to discuss cuts.

Governor Adam Glapinski said rates could stay unchanged until 2026 after the NBP held the reference rate at 5.75% for the 10th month in a row in July, but other members have suggested cuts might begin earlier, with Ludwik Kotecki saying a large majority of members see potential for a discussion about easing by as early as the first quarter of 2025.

Keep reading...Show less