FX.co ★ National Bank of Poland Holds Rate Steady

The National Bank of Poland kept its benchmark interest rate unchanged at 3.75% at its October 2026 meeting, as widely anticipated. This marked the sixth consecutive meeting at which rates were held at their lowest level since 2022. The decision followed the introduction of government measures to lower fuel prices at the pump, providing policymakers with additional scope to evaluate the inflation outlook. Nevertheless, headline inflation rose to 4% in September, its highest level since June 2025 and above the upper bound of the central bank’s 2.5% ± 1 percentage point target range.