2026-01-15 09:37
publication
2026-01-15 09:37
The Monetary Policy Council did not change interest rates at its January meeting, which also maintained the status quo on the euro-zloty pair. Globally, we are observing a strengthening dollar and increased volatility on the Swiss franc market.
On Thursday morning, the euro exchange rate was PLN 4.2102 and remained almost unchanged compared to Wednesday's reference rate. Moreover, since the beginning of 2026, euro rates remain “stuck” to the level of PLN 4.21, moving in the range of PLN 4.21-4.22.
The January statement of the Monetary Policy Council did not bring anything new; in line with the market consensus, it decided to leave interest rates unchanged, starting a monetary pause after a series of last year's cuts. – Further decisions of the Council will depend on the incoming information regarding the outlook for inflation and economic activity – was written in the January statement of the Monetary Policy Council. Perhaps the afternoon press conference of the President of the NBP, Adam Glapiński, will shed some more light on the future path of interest rates.
Meanwhile, on the global market we are observing further pressure on the strengthening of the dollar. The American currency has been gaining since Christmas Eve after the disastrous year 2025. In the morning, the dollar cost PLN 3.6201 and was 0.2 cents more expensive than the day before.
Quite unexpected volatility took its toll on the euro-franc pair. Yesterday, the EUR/CHF rate first went up significantly, and then fell just as dynamically. On Thursday morning, however, the Helvetian currency was losing again, which translated into a downward movement of the CHF/PLN exchange rate by more than half a cent. As a result, the Swiss franc was valued at PLN 4.5165.
K.K
