23.12.2013 Interest rates to stay at record low

As the economy slowed down, the National Bank of Poland (NBP) responded by easing monetary policy. The main interest rate has been cut in July 2013 by almost a half, from 4.75% to a record low 2.5%, while the Financial Supervision Commission (KNF) liberalized credit requirements, thus reducing the cost of credit for enterprises and households. Members of the Monetary Policy Council (RPP) have recently said that low interest rates are to stay put because “there is no need for sudden movements”. Credit cost should thus continue at a very low level until at least the second half of 2014.

Source: National Bank of Poland