Narodowy Bank Polski · Reference rate
Poland · PLN · Policy rate
The Narodowy Bank Polski’s Reference rate is 3.75 %, last changed on 5 Mar 2026 when it was cut by 25 bp from 4.00 %.
3.75 %
- Last change
- cut −25 bp·
- Previous rate
- 4.00 %
- Next decision
- —
- Latest observation
- Source
- BIS
3.75 % ·
2 Nov 20210.00 – 6.75 %2 Nov 2026
Recent decisions
| Date | Rate | Change |
|---|---|---|
| 3.75 % | −25 bp | |
| 4.00 % | −25 bp | |
| 4.25 % | −25 bp | |
| 4.50 % | −25 bp | |
| 4.75 % | −25 bp | |
| 5.00 % | −25 bp | |
| 5.25 % | −50 bp | |
| 5.75 % | −25 bp | |
| 6.00 % | −75 bp |
Changes are dated by when they took effect; holds by the announcement day. We do not track this bank’s meeting calendar, so only changes are listed.
At a glance
- Economy
- Poland
- Currency
- PLN
- Type
- Policy rate
- Set by
- Narodowy Bank Polski
- History since
- 1993
- Changes in the last 12 months
- 3
Questions and answers
- What is the current Narodowy Bank Polski interest rate?
- The Narodowy Bank Polski’s Reference rate is 3.75 %, last changed on 5 Mar 2026 when it was cut by 25 bp from 4.00 %.
- When did the Narodowy Bank Polski last change its rate?
- On 5 Mar 2026, when the Reference rate was cut by 25 bp to 3.75 % from 4.00 %.
- When is the next Narodowy Bank Polski rate decision?
- The bank does not publish a decision calendar that we track.
Decisions by year since 2020
2026net −25 bp
| Date | Rate | Change |
|---|---|---|
| 3.75 % | −25 bp |
2025net −175 bp
| Date | Rate | Change |
|---|---|---|
| 4.00 % | −25 bp | |
| 4.25 % | −25 bp | |
| 4.50 % | −25 bp | |
| 4.75 % | −25 bp | |
| 5.00 % | −25 bp | |
| 5.25 % | −50 bp |
2023net −100 bp
| Date | Rate | Change |
|---|---|---|
| 5.75 % | −25 bp | |
| 6.00 % | −75 bp |
2022net +500 bp
| Date | Rate | Change |
|---|---|---|
| 6.75 % | +25 bp | |
| 6.50 % | +50 bp | |
| 6.00 % | +75 bp | |
| 5.25 % | +75 bp | |
| 4.50 % | +100 bp | |
| 3.50 % | +75 bp | |
| 2.75 % | +50 bp | |
| 2.25 % | +50 bp |
2021net +165 bp
| Date | Rate | Change |
|---|---|---|
| 1.75 % | +50 bp | |
| 1.25 % | +75 bp | |
| 0.50 % | −75 bp | |
| 1.25 % | +75 bp | |
| 0.50 % | +40 bp |
2020net −140 bp
| Date | Rate | Change |
|---|---|---|
| 0.10 % | −40 bp | |
| 0.50 % | −50 bp | |
| 1.00 % | −50 bp |
Dates before 2021 are month precision (monthly BIS data).
Other rates in Europe
- Euro area · European Central Bank2.50 %
- United Kingdom · Bank of England3.75 %
- Switzerland · Swiss National Bank0.00 %
- Sweden · Sveriges Riksbank1.75 %
- Norway · Norges Bank4.50 %
- Czechia · Czech National Bank3.75 %
- Denmark · Danmarks Nationalbank2.10 %
- Hungary · Magyar Nemzeti Bank5.50 %
- Iceland · Central Bank of Iceland8.00 %
- North Macedonia · National Bank of the Republic of North Macedonia4.25 %
- Romania · National Bank of Romania6.50 %
- Russia · Bank of Russia14.00 %
- Serbia · National Bank of Serbia5.75 %
- Türkiye · Central Bank of the Republic of Türkiye36.00 %
Source: BIS central bank policy rates. Latest observation 27 Oct 2026. Refreshed every 30 minutes.