Poland cuts interest rates by half a point ahead of presidential vote

Poland’s central bank, the National Bank of Poland, has cut its benchmark interest rate for the first time since Prime Minister Donald Tusk’s return to power, lowering it by half a point to 5.25% due to a drop in inflation from 4.9% in March to 4.2% in April. Tusk had pressured the bank to lower rates ahead of the May 18 presidential election, claiming it was “high time” for a cut. Economists suggest further rate adjustments may follow, with some forecasting a potential drop to 3.75% by the end of 2026, reflecting changing economic conditions and pressures within the monetary policy council.

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