Borrowers paying off their mortgages are anxiously awaiting Wednesday’s meeting of the Monetary Policy Council. According to most experts and analysts, the MPC will react to Last Data on the rate of money depreciation will raise interest rates. Inflation was 7.7% in November, the worst result of this century.
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feet up? It is somewhat certain, the scale is uncertain
It is difficult to predict what the council he chairs will decide Adam GlapinskiPresident of the National Bank of Poland. Most analysts have no illusions and claim that a rate hike is inevitable. Its size is still uncertain.
“We assume that the benchmark rate will rise by 50 basis points, but neither a more cautious decision (25 basis points) nor a more decisive move (75-100 basis points) can be ruled out” – reads the expert analysis PKO BP.
According to analysts, reducing the expected path of inflation through the anti-inflation shield and the decline in Sin oil. The deterioration of economic growth prospects in the world and in Poland also requires caution. However, there are also arguments for raising prices in a more decisive manner. The main reason is inflationThat rose above expectations. The fate of the Polish currency is also uncertain.
The size of the increase is not sure, analysts at Credit Agricole Polska. We expect the MPC to raise the benchmark interest rate by 50 basis points to 1.75%. – They wrote in expertise.
How much will the mortgage payments increase?
Most mortgages settled in PLN carry interest at the sum of the bank’s margin and the WIBOR 3 rate. When calculating, we assume that they will increase by exactly the same amount of interest rates, although it is possible that they will go up to a greater extent.
Average Height As Per Expander credit Recently taken amounted to 330 thousand. PLN, repayment time is 25 percent, and the margin is 2.62 percent. In this case, the WIBOR rate will increase by 0.25%. will raise the loan installment – From the beginning of October – 398 PLN. 0.5 percent higher WIBOR is already a premium PLN 446 higher. If the MPC decides to raise interest rates to 0.75%, the loan installment will increase by 495 PLN, and at 1% interest will increase by 545 PLN.
The benchmark for raising interest rates could be higher if the MPC decides to repeat the latest decision. That’s what professor. Marian Noga, economist, former member of the Monetary Policy Council. – There is no doubt that the Monetary Policy Council will meet on the eighth of December and it should be adjourned [stopy procentowe – red.] up to 2 percent, at 75 percent basis points. This will show that NBP is starting to take inflation into its own hands – he said in an interview with Łukasz Kijek on “Business Studio”.
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