The National Bank of Poland held its benchmark reference rate at a record low of 1.5 percent on November 7th 2018, in line with market expectations. The central bank revised higher its inflation forecast to 1.7-1.9 percent in 2018 (from 1.5-2.1 percent); 2.6-3.9 percent in 2019 (from 1.9-3.5 percent) and 1.9-3.9 percent in 2020 (from 1.7-3.9 percent). At the same time, policymakers revised its GDP expectations to 4.4-5.2 percent in 2018 (from 4.0-5.2 percent); 2.7-4.4 percent in 2019 (from 2.8-4.7 percent) and 2.3-4.2 percent in 2020 (from 2.4-4.3 percent). Also, the lombard rate and the deposit rate were kept unchanged at 2.5 percent and 0.5 percent, respectively, and the rediscount rate was left at 1.75 percent. Interest Rate in Poland averaged 6.90 percent from 1998 until 2018, reaching an all time high of 24 percent in March of 1998 and a record low of 1.50 percent in March of 2015.
Interest Rate in Poland is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Poland to stand at 2.00 in 12 months time. In the long-term, the Poland Interest Rate is projected to trend around 2.50 percent in 2020, according to our econometric models.