Increase in interest rates

10th June 2011

Interest rates have now hit 4.5 percent

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The National Bank of Poland (NBP) announced this week that interest rates are to rise 0.25 percent to 4.5 percent.

The news comes after a two-day Monetary Policy Council meeting this week and promises to cause worry and headaches for borrowers across the board.

According to news site TVN24, the decision was not unexpected. In a recent study conducted by news agency PAP, 13 out of 19 analysts questioned stated that they believed rates would be hiked by 0.25 percent this month following the Council meeting. The remaining six said they thought that an increase would occur, but not until July.

NBP President Marek Belka stated after the meeting that, “We will wait until making any furt ...

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