The Central Bank of Poland (NBP) announced on Wednesday the reduction of its main key rate to 5.75%, compared to 6.0% previously.
This is the second successive rate change since September 2022, while inflation still remains high – 8.2% in September year-on-year.
The decline is in line with experts’ expectations.
The discount rate, which designates the interest rate at which commercial banks borrow cash by providing as security the receivables they hold, was set at 5.85%.
The Lombard rate, i.e. the interest rate applied by the central bank when granting overnight loans to commercial banks, was increased to 6.25%.