The National Bank of Poland's new Monetary Policy Council (MPC) has kept its reference rate unchanged at 1.5%, on par with market forecast. There is an increased risk of rate cuts; however, the situation of stable rates for a longer period of time is still possible. The new council is likely to be more wary of rate cuts. Nevertheless, it might cut the required reserve rate after the new banking taxation is introduced in the following months. The new council might also begin to think of using new tools to boost the economy.

According to the NBP, the current interest rate level assists in maintaining a sustainable growth path for the Poland's economy and guarantees macroeconomic balance. The new MPC has stated that a more comprehensive evaluation of the price developments and economic growth's outlook in the coming quarters will be possible after they are familiar with the GDP and inflation forecast for March. This indicates that the central bank is not expected to lower rates in February and that the new council might discuss changes in the rate in March.