The Monetary Policy Council meeting is starting. The lack of interest rate cuts will be a sensation

Of the 18 forecasts we have obtained from macroeconomic analysts (including banks and other financial institutions), only one assumes that the Monetary Policy Council will not lower interest rates during the meeting starting on Tuesday (decision on Wednesday, May 7). The remaining experts and teams expect a cut, and by 50 basis points at once. In a word, even a cut of the "standard" 25 basis points would be a surprise. What's more, although a cut of 50 basis points is the base scenario, economists from PKO Bank Polski note that market valuations indicate a non-zero probability of an even stronger cut, by 75 basis points.