ING
June 4, 2026
National Bank of Poland Interest Rate Outlook
Market ReportMacro Economic IndicatorsRates Govt BondsFinancials
NBP Governor Glapinski indicates that current interest rates are sufficient to control inflation, signaling a prolonged pause in rate changes. ING expects rates to remain steady through the end of 2026.
Key Takeaways
- 1.NBP Governor Adam Glapinski views current interest rates as adequate to stabilize inflation and expects a holding pattern.
- 2.May inflation was lower than expected at 3.1% YoY, reducing the risk of further rate hikes.
- 3.ING forecasts interest rates to remain unchanged until at least the end of 2026.
Table of Contents
- Background to June policy decision
- Economic conditions
- Inflation and monetary policy outlook
- Summary
- Author
- Disclaimer
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Authors
Adam AntoniakMateusz Sutowicz
Securities
PLN
Themes
Central Bank Policy StasisSupply-Side Inflation Shocks
Regions
EuropePoland
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