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BitcoinWorld Poland’s NBP Expected to Hold Rates Steady with Hawkish Tone, Says ING Poland’s central bank is widely expected to maintain its current interest rate stance at the upcoming meeting, with analysts at ING forecasting a steady policy rate accompanied by a hawkish tone. The projection comes amid persistent inflationary pressures and an uncertain economic outlook in the region. ING’s Forecast: No Change in Sight According to a recent note from ING economists, the National Bank of Poland (NBP) is likely to keep its main reference rate unchanged at 5.75%. The decision would mark a continuation of the current pause that began in October 2023, after a series of aggressive rate cuts earlier that year. ING’s analysis suggests that the central bank’s communication will lean hawkish, emphasizing the need to monitor inflation dynamics closely before considering any policy easing. Poland’s inflation rate has remained stubbornly above the NBP’s target range, driven by factors such as rising food prices, energy costs, and robust domestic demand. Core inflation, which excludes volatile food and energy prices, has also stayed elevated, limiting the central bank’s room to maneuver. Market Implications and Zloty Outlook A hawkish hold by the NBP could provide some support for the Polish zloty, which has faced pressure from global risk aversion and a strong US dollar. ING analysts note that the central bank’s cautious stance may help anchor inflation expectations and maintain credibility, even as other major central banks signal potential rate cuts. For investors and businesses, the steady policy signals a period of relative stability in borrowing costs, though the hawkish tone suggests that rate cuts are not imminent. This outlook may influence decisions on capital allocation, currency hedging, and investment planning in the Polish market. Why This Matters for Readers The NBP’s decision directly affects mortgage rates, business loans, and savings returns for millions of Poles. A steady rate means continued higher borrowing costs for households and companies, while savers may benefit from relatively attractive deposit rates. The hawkish tone also signals that the central bank remains vigilant against inflation, which could protect purchasing power in the medium term. Conclusion ING’s forecast aligns with market expectations that the NBP will prioritize inflation control over growth support in the near term. The central bank’s hawkish hold reflects a careful balancing act between managing price pressures and supporting an economy facing headwinds from global trade tensions and domestic fiscal challenges. The actual decision and accompanying commentary will be closely watched for clues on the future path of Polish monetary policy. FAQs Q1: What is the current NBP interest rate? The National Bank of Poland’s main reference rate is 5.75%, unchanged since October 2023. Q2: Why does ING expect a hawkish tone from the NBP? ING expects a hawkish tone because inflation remains above the NBP’s target, and the central bank wants to signal its commitment to price stability without committing to future rate cuts. Q3: How might the NBP decision affect the Polish zloty? A hawkish hold could support the zloty by reinforcing confidence in the central bank’s inflation-fighting credibility, potentially attracting foreign investment and reducing depreciation pressure. This post Poland’s NBP Expected to Hold Rates Steady with Hawkish Tone, Says ING first appeared on BitcoinWorld .