Monetary board keeps rates extraordinarily low.

The third meeting of the Monetary Policy Council (MPC) this year did not bring any changes in the main interest rates of the central bank.

A year ago, the March meeting of the MPC was groundbreaking. Then, for the first time after a five-year break, a decision was made to cut interest rates in Poland. It was a response to the outbreak of the coronavirus crisis.

From May 2020, the main rate is 0.1%. A year ago it was 10 times higher. The interest rate on funds deposited with the NBP by commercial banks remained at 0%, and the loan rate is still 0.5%.

These rates apply to banks, but the decision of the MPC always translates into an offer for ordinary customers. The lack of changes in interest rates means that both the interest rates on deposits and deposits as well as loans and credits should not change.

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