On Wednesday, December 7, the last meeting of the Monetary Policy Council of the year will be held. If you look at this year’s balance sheet, interest rates were raised at every meeting from January to September. The last two meetings were an exception. “We believe that interest rates in Poland have already peaked and that the market is coming to a similar conclusion,” predicted Ebury analysts.
The end of the year is approaching, but before that happens, the next meeting of the Monetary Policy Council awaits us. The MPC will discuss its next interest rate decision on Wednesday, December 7. At the session of the Monetary Policy Council in November, a decision was made to keep the main reference rate at 6.75 percent.
“The market expected an increase in response to rising inflation. The Council probably assumed that anti-inflationary events would occur, which would nevertheless bring the inflation projection closer to the inflation projection, explains Wiktor Żelazo, Lendi.
– Since the last meeting in early November, the main measure of inflation has fallen, which should be an argument for the MPC to keep interest rates unchanged.. According to the preliminary reading, due to lower energy prices, CPI inflation unexpectedly fell to 17.4% in November. compared to 17.9 percent. in October. The reading of the base measure will be known in mid-December, but the available data allow for the assessment that it continued to grow in November, according to Ebury experts in the sent analysis.