This decision comes after a two-day meeting of the MPC, during which members considered the current economic situation and its potential impact on inflation. The council ultimately decided to maintain the current interest rate levels, including the Lombard rate at 6.25%, the deposit rate at 5.25%, the bills of exchange rediscount rate at 5.80%, and the bill discount rate at 5.85%.

The MPC’s decision to maintain the current interest rate levels aligns with the expectations of market analysts. This decision is seen as a continuation of the stabilization policy adopted by the MPC.

While there have been calls from some, including politicians like Rafał Trzaskowski and Karol Nawrocki, to lower interest rates, the MPC has not indicated any intention to do so in the near future. The last time the MPC lowered interest rates was in October 2023, just before the parliamentary elections.

Looking ahead, analysts do not anticipate a reduction in interest rates in the first half of the year. Forecasts suggest that the earliest possible date for a rate cut could be in the third quarter. However, the MPC’s decision to maintain the current interest rate levels indicates that it is committed to its stabilization policy and will continue to monitor the economic situation closely before making any changes.