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POLAND: NBP Expected To Extend Interest-Rate Pause

POLAND
  • The National Bank of Poland (NBP) is expected to keep interest rates unchanged today (reference rate at 5.75%). Some Monetary Policy Council (MPC) members have cautiously flagged potential for rate cuts in 2H2025 but any interest-rate action is unlikely before then, with Governor Adam Glapinski positioned towards the hawkish end of the spectrum relative to his colleagues. There is no fixed time for the release of the statement or rate decision, but the Governor will hold his regular press conference tomorrow afternoon. See our full preview of this NBP meeting here.
  • Prime Minister Donald Tusk unveiled plans to reshuffle and reduce his cabinet to "one of the smallest in Europe" after the upcoming presidential election. WP.pl reported that the list of cabinet members who may lose their posts are Agriculture Minister Czeslaw Siekierski, Environment Minister Paulina Hennig-Kloska, Industry Minister Marzena Czarnecka, Equality Minister Katarzyna Kotula, Funding and Regional Policy Minister Katarzyna Pelczynska-Nalecz, Health Minister Izabela Leszczyna and Development and Technology Minister Krzysztof Paszyk.
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  • The National Bank of Poland (NBP) is expected to keep interest rates unchanged today (reference rate at 5.75%). Some Monetary Policy Council (MPC) members have cautiously flagged potential for rate cuts in 2H2025 but any interest-rate action is unlikely before then, with Governor Adam Glapinski positioned towards the hawkish end of the spectrum relative to his colleagues. There is no fixed time for the release of the statement or rate decision, but the Governor will hold his regular press conference tomorrow afternoon. See our full preview of this NBP meeting here.
  • Prime Minister Donald Tusk unveiled plans to reshuffle and reduce his cabinet to "one of the smallest in Europe" after the upcoming presidential election. WP.pl reported that the list of cabinet members who may lose their posts are Agriculture Minister Czeslaw Siekierski, Environment Minister Paulina Hennig-Kloska, Industry Minister Marzena Czarnecka, Equality Minister Katarzyna Kotula, Funding and Regional Policy Minister Katarzyna Pelczynska-Nalecz, Health Minister Izabela Leszczyna and Development and Technology Minister Krzysztof Paszyk.