Some experts and scholars predict that the National Bank will raise interest rates two more times, that is, in January and March of next year.
It is expected that as the Fed continues to raise interest rates, the Bank will be forced to follow suit. It is possible that the National Bank will raise the overnight policy rate (OPR) from the existing 2.75% to 3.00% in January, which is a 0.25% rate hike, which would be a return to the pre-epidemic level.
If the situation at home and abroad still does not improve, the NBP may raise interest rates by another 0.25% in March, when the overnight policy rate (OPR) will be raised from 3.00% to 3.25%.
Some studies suggest that the NB will hold off on raising interest rates to 3.25% because if the rate hike continues, it will hit domestic economic activity and disposable income in the market will decrease, which will cause domestic economic activity to start shrinking.
If the National Bank raises the overnight policy rate to 3.25%, financial products such as home loans and car loans will follow suit. Borrowers will definitely follow in terms of the monthly interest they need to pay, although time deposit depositors will be able to earn more interest.
