Interest rates. There is a decision from the Monetary Policy Council

"The Council has decided to cut the National Bank of Poland (NBP) interest rates by 0.25 percentage points," the central bank announced. The NBP added that the rate cuts will take effect on Thursday.

This was the fifth interest rate cut this year . Since the beginning of the year, central bank rates have fallen by a total of 1.50 percentage points. The National Bank of Poland's main interest rate, the reference rate, was reduced from 5.75% to 4.25%.

Following the decision of the Monetary Policy Council, interest rates in Poland are as follows:

• reference rate of 4.25 percent per annum;
• Lombard rate 4.75% per annum;
• deposit rate of 3.75 percent per annum;
• bills of exchange rediscount rate of 4.30 percent per annum;
• bill discount rate 4.35 percent per annum.

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Earlier this year, monetary authorities cut interest rates four times: in May (by 50 basis points), and in July, September and October (each time cutting by 25 basis points).

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