Interest rates in Europe and Poland

Interest rates in Europe

Interest rates in Europe

In Europe, the highest interest rates are in Ukraine – 15%. In most European countries, rates are at 4.5%. Outside the eurozone, the highest rates are in Hungary (10.75%), Romania (7%), and the Czech Republic (6.75%). In Sweden they are 4%, in Bulgaria 3.8%, in Denmark (3.6%).

More detailed interest rates can be found on the attached map.

Interest rates in Poland

In Poland, interest rates are 5.75%. Interest rates of the National Bank of Poland (NBP) place Poland in the middle between countries outside the eurozone. It is predicted that there will be a rate cut in Poland, as was already the case in September and October 2023. Overall, rates fell by 1 percentage point over these two months. This will most likely happen after the Monetary Policy Council meeting in March 2024, when inflation and GDP data become available. The cost of loans depends on this and whether it will decrease in the coming months.

What does inflation look like in Poland compared to Europe?

This distribution of interest rates roughly matches the inflation rate in individual countries. Below are data for European countries with the harmonized index of prices for goods and services HICP. These are data for November because Eurostat has not yet published data for December for several countries, including Poland.