The National Bank of Poland left its reference policy rate unchanged at 3.75% at its October 2026 meeting, in line with expectations, marking the sixth consecutive meeting with rates at their lowest level since 2022. The decision came as government measures aimed at reducing fuel prices at the pump gave policymakers additional room to assess the inflation outlook. Still, headline inflation accelerated to 4% in September, its highest level since June 2025 and reaching above the upper limit of the central bank's target of 2.5±1%.