Pologne Taux d'intérêt

The National Bank of Poland cut its benchmark rate by 25 basis points to 4.25% at its November 4–5 meeting, marking the lowest level in three and a half years and the fifth reduction this year, bringing the cumulative 2025 easing to 150 basis points. The move came as annual inflation unexpectedly eased to 2.8% in October, below market expectations and the fourth consecutive month within the central bank’s 2.5% ±1 percentage point target range. Economic activity remained robust, with retail sales, industrial output, and construction rising year-on-year, while unemployment reached its highest level of 5.6% since early 2023. The NBP indicated that future rate adjustments will depend on incoming economic and inflation data.