Policy rate in Poland

Banco Nacional de Polonia · Mensual

3.75% (Jul-26) ABS · % · Mensual · CSV

About this indicator

Source	National Bank of Poland
Frequency	Mensual
Release	En las fechas de las reuniones de política monetaria del banco central.
What it is	The official reference rate (stopa referencyjna) set by the National Bank of Poland (NBP). It anchors open market operations and is the country's main monetary policy instrument.
How it's calculated	It is not a statistical estimate: it is decided by the NBP's Monetary Policy Council (RPP) at its regular meetings, in line with its 2.5% (±1 pp) inflation target and the economic outlook. Quoted as an annual percentage.
Market implications	Poland's key policy lever: changes feed through to WIBOR, credit conditions and the exchange rate. A hike or a hawkish tone tends to lift market rates and support the zloty (PLN); a cut cheapens credit to stimulate the economy.
Limitations	It only moves on RPP decision dates (a step function) and its effects reach the economy with long, variable lags. The statement and press conference often move markets more than the rate level itself.