ING: NBP Rate Cut Possible Before End of 2026 as Rhetoric Turns Dovish

Economists at ING Bank Śląski, Rafał Benecki and Adam Antoniak, expect Polish interest rates to remain unchanged for now. However, they note that the National Bank of Poland's rhetoric has turned "even more dovish" than in June, raising the chances of a rate cut before the end of 2026. The shift in tone signals a more accommodative monetary policy stance ahead.