interest rates. The Monetary Policy Council will decide

The decision on interest rates will be announced on Wednesday, after the completion of the two-day meeting. In turn, on Thursday, a press conference will be held by the President of the National Bank of Poland, Adam Glapinski, who will explain the reasons for this decision.

interest rates. Economists agree on forecasts

Analysts say the Monetary Policy Council will not raise interest rates as it is still waiting for January inflation data to be released by the Central Statistical Office on February 15.

“It is difficult to expect any changes - interest rates should remain at the current level. Only the March forecast can sow some unrest in the circle of the Council, ”we read in the communiqué of mBank analysts.

There is no hope for a reduction either, because inflation is still very high.

In our view, there will be no conditions for lowering interest rates in 2023 due to persistently high core inflation, although stabilization or even a decline in world energy prices (including fuel prices) will help reduce the main inflation index in the coming years. months, ING bank analysts.

Pay cycle stopped

In early January, the MPC decided to leave interest rates unchanged. at the current level. The main base rate remains at 6.75%. This is another such decision by the IPC, but the IPC has previously raised interest rates for 11 consecutive months.

“However, inflation remains high, mainly due to the fact that the increase in costs is passed on to consumer prices. High commodity prices are reflected in rising food and energy prices, and, together with the lingering effects of previous disruptions in global supply chains, increase the operating costs of enterprises, which, in the face of still relatively strong demand, pushed companies to raise prices and contributed to higher core inflation,” reads the communiqué issued following the MPC meeting.