In Polish: NBP (Narodowy Bank Polski)
This is the word you will see in bank documents.
Definition
NBP (Narodowy Bank Polski) is Poland's central bank, which conducts monetary policy, issues the złoty and publishes exchange rates. NBP interest rates are set by the Monetary Policy Council, with an inflation target of 2.5% plus or minus 1 percentage point. The NBP reference rate has been 3.75% since 5 March 2026.
What it means for you
The NBP does not lend to individuals, but its rates affect your instalment. WIBOR and POLSTR depend on them, and so does the variable interest rate on your loan. With a fixed rate, NBP decisions do not change your instalment until the fixed period ends.
Full entry in Polish, with a worked example and sources
Frequently asked questions
Who sets NBP interest rates?
The Monetary Policy Council. Decision-making meetings are usually held once a month, and a new rate applies from the day after the decision is announced.
What is the NBP reference rate?
3.75% since 5 March 2026. At its meeting on 6–7 October 2026 the Council left rates unchanged.
Does an NBP rate cut lower my instalment immediately?
No. The new benchmark value enters your instalment on the update date in your agreement, usually every 3 or 6 months. With a fixed rate the instalment does not change until the fixed period ends.
Related terms
Definitions are simplified and reflect Polish law and bank practice as of October 2026. Where every word matters, the Act and your loan agreement decide. Figures in examples are indicative and are not a bank offer. The Polish version of each entry has worked examples and sources.
Other terms in “Institutions and experts”