interest rates up. Loan installments will be the highest since February 2015.

On Wednesday, December 8, the Monetary Policy Council set a new benchmark interest rate. From Thursday it will amount to 1.75 percent, ie 0.5 pp more than the one set in November. For comparison, in September this year. it was 0.1 percent, i.e. in just three months the main rate increased by 1.65 percentage points.

The forecasts of some financial institutions – such as Bank Pekao – indicated that the reference rate could even reach 2% on Wednesday, but the average forecast was 1.75%.

Not only the reference rate went up by 0.5 pp, but also other NBP rates, which currently amount to:

  • reference rate of 1.75% on an annual basis;
  • lombard rate 2.25% on an annual basis;
  • 1.25% deposit rate on an annual basis;
  • rediscount rate 1.80% on an annual basis;
  • discount rate 1.85% on an annual basis;

The current rates are the highest since February 2015, which means that soon the loan installments will probably reach levels that were the norm until almost seven years ago. Let us recall that in February 2015, when the NBP reference rate was 2 percent. (since March 2015 it has dropped to 1.5%), consumer credit up to 1 year had an average interest rate of 6.2%, and long-term housing loan was charged at 4.1%. – it follows from the NBP data. This is respectively 3 pp and 1.7 pp more than it was until recently, i.e. in October 2021. in Polish banks.

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

Check Also

There is a job for air traffic controllers. You can earn up to 45,000. zloty. PANSA is recruiting again

The announcement about the recruitment of candidates for the air traffic controller course appeared on …

Leave a Reply

Your email address will not be published.