Will the RPP raise interest rates? We know the latest forecasts for borrowers.
The Monetary Policy Council begins a two-day meeting today, with expectations that interest rates will remain unchanged in November. ING Bank economist Adam Antoniak noted that despite rising fuel prices, there is no broad inflationary pressure in the economy, as indicated by recent inflation data showing a drop to 3.5% in October from 4.1% in September. He suggested that the Council may wait to observe the energy market's impact on prices and the economy. If rates are unchanged in November, they likely won't change until the end of the year. Future rate hikes may occur in the first quarter of next year, depending on inflation projections and regulated energy prices. Currently, the main NBP interest rate is 3.75%.