Two Monetary Policy Council (MPC) members, Henryk Wnorowski and Marcin Zarzecki, said a rate increase in Poland — the first since 2022 — is now expected within months and that a December hike cannot be ruled out. Their comments point to a more hawkish stance at the Polish central bank as the euro area and the Czech Republic have already tightened and Middle East-driven energy price rises boost inflation risk; they said a December move could pre-empt second-round effects from higher fuel prices.

Two Monetary Policy Council (MPC) members, Henryk Wnorowski and Marcin Zarzecki, said a rate increase in Poland — the first since 2022 — is now expected within months and that a December hike cannot be ruled out. Their comments point to a more hawkish stance at the Polish central bank as the euro area and the Czech Republic have already tightened and Middle East-driven energy price rises boost inflation risk; they said a December move could pre-empt second-round effects from higher fuel prices. Governor Adam Glapinski earlier this week signalled the policy rate could be raised to 3.75% by early 2027.