The Polish Central Bank witnessed the rate of price reduction by 25 basis points on Wednesday: Reuters poll

Warsaw (Reuters) -It is expected that the National Bank of Poland will resume interest rates to reduce interest rates on Wednesday.

NBP will reduce its main average by 25 basis points to 4.75 %, according to 26 out of 30 analysts, while four expected that they will remain fixed at 5 %.

The bank unexpectedly reduced its main rate by 25 basis points in July, after it was reduced by 50 basis points in May. He had previously kept the main rate fixed at 5.75 % since the fall of 2023.

In the wake of the July reduction, the governor of NBP Adam Glapinsky said it was not the beginning of a session on politics, although he did not rule out another step in September.

Flash reading on Friday showed a little lower growth than consumer prices in August, by 2.8 % throughout the year, after reading higher than expected by 3.1 % in July. Both came within the scope of the NBP inflation goal, which is 2.5 % plus or minus one percentage.

“We expect the MPC to reduce the price of 25 bits per second to the policy rate to 4.75 %. The latest NBP communication data and inflation dynamics support our view,” Deutsche Bank analysts wrote.

They added: “However, the increase in financial risks – as confirmed by the draft budget 2026, which confirmed this week – and the constant uncertainty in the future of electricity prices, should not be excluded in a stopping completely in the next week from our point of view.”

Poland raised its impotence for 2025 on Friday, with a modest decrease in 2026, as higher spending of defense, luxury and debt service hinders budget deficit efforts.

“The decision was soon.

“While I think there is justification for the justified cash dilution in view of the remaining inflation near the target, the uncertainty surrounding the prices of energy under the fourth quarter can convince the council to abandon the discounts for at least a month.”

Poland’s electricity price ceiling ends in October, and Gabinski pointed out as a risk of inflation.

In August, Polish President Carole Noruki transferred him a draft law that included an extension of freezing, but was collected with reduced rules for building wild wind farms, describing it as a governmental attempt to “blackmail”.

EY analyst said that the price stations were exaggerating the energy prices. He added that the government’s fiscal policy more than expected was a factor in favor of maintaining rates unchanged.

“However, even if the prices remain unchanged in September, we expect gradual discounts in subsequent meetings, with an average of 25 basis points every two months.”

(Participated in the reports of Carol Baduhal; edited by Lisa Shomker)