Poland - Lending Rate

Poland: Lending Rate

Unit % p.a., NSA
Adjustments Not Seasonally Adjusted
Data 15 Oct 2021 0.5
14 Oct 2021 0.5

Series Information

Source National Bank of Poland
Release Monetary Policy
Frequency Business Daily
Start Date 2/26/1998
End Date 10/15/2021

Poland: Markets

Reference Last Previous Units Frequency
Lending Rate 15 Oct 2021 0.5 0.5 % p.a., NSA Daily
Stock Market Index 14 Oct 2021 74,524 74,282 Index, NSA Business Daily
Average Long-term Government Bond Sep 2021 1.87 1.6 % p.a., NSA Monthly
Money Market Rate Aug 2021 0.1 0.1 % p.a., NSA Monthly
Business Lending Rate Jul 2021 2.2 2.33 % p.a., NSA Monthly
Household Lending Rate Jul 2021 4.5 4.57 % p.a., NSA Monthly

Release Information

For Poland, central bank monetary policy rates and reserve requirement rates. Daily from 1989.

The basic objective of monetary policy is to maintain price stability. Stable prices are an indispensable element of constructing solid foundations for long-term economic growth.

Open market operations are transactions in which the central bank engages with commercial banks on its own initiative. Such transactions include the conditional and outright sale or purchase of securities or foreign currency, as well as the issue of own-debt securities by the central bank.

Open market operations balance the demand and supply of funds held by commercial banks at the central bank. This allows the central bank to influence the level of short-term interest rates on the interbank market.

The open market operations currently conducted by the National Bank of Poland consist in the issue of own-debt securities (7-day NBP money market bills), whose minimum yield equals the reference rate adopted by the Monetary Policy Council.

Deposit rate – determines interest rate on deposits.

Lombard rate – determines costs of funding obtainable from the NBP

Reference rate – determines yield obtainable on the main open market operations, affecting at the same time, the level of short-term market interest rates.

Reserve requirement – a monetary policy instrument that can be used to regulate the banking sector liquidity and to mitigate volatility of short-term interest rates. The obligation to maintain the reserve is also an element of liquidity management at banks.