FX.co ★ Poland Holds Key Rate at 4% as Expected

The National Bank of Poland has decided to maintain its benchmark interest rate at 4% during the first meeting of 2026. This decision follows a series of rate cuts totaling 175 basis points, executed in six steps over the previous year. By December 2025, annual inflation had decreased to 2.4%—the lowest rate since April 2024—falling just below the National Bank of Poland's target range of 2.5%, with a margin of plus or minus 1 percentage point. Nevertheless, the central bank emphasized that it remains uncertain if this downward trend in inflation will persist in the long term.