Two interest rate hikes are behind us, but there are many indications that it is not the end. The market expects further increases to the level of even 2.5-3%. in the next several months. Today the MPC member, who will be one of the decisive players on the level of interest rates, contributed to this discussion today.
“Interest rate increases must continue; the necessary level of interest rates may be lowered by the NBP communication stabilizing inflation expectations and a more permeable exchange rate channel, “wrote on Twitter, member of the Monetary Policy Council, Łukasz Hardt.
Bloomberg on rate hike in Poland
Bloomberg also informed today about possible hikes in December. “Interest rates in Poland will probably go up,” the agency assessed on the basis of recent comments from MPC members.
See also: What’s next for interest rates? MPC member does not rule out rate hikes
According to her findings over half of policymakers are in favor of bringing funding costs rapidly above pre-pandemic levels, or 1.5 percent The agency tracked the last interviews of 6 out of 10 MPC members, and in the case of the remaining ones – their public comments. The next decision on interest rates will be made by the MPC on 8 December.
The analysts of the Goldman Sachs bank are also expecting an increase, who are predicting that the main interest rate will reach 3%. in the first half of 2022
Interest rates in Poland
At the November meeting, the MPC decided to raise interest rates, which means that they are currently at the level of:
- reference rate of 1.25 percent on an annual basis;
- lombard rate 1.75% on an annual basis;
- deposit rate 0.75% on an annual basis;
- rediscount rate 1.30% on an annual basis;
- discount rate 1.35% on an annual basis.
The decision on interest rates should, with some delay, translate into interest rates on loans and deposits in commercial banks.