Monetary Policy Council

The Monetary Policy Council, Polish: Rada Polityki Pieniężnej, (RPP) is a body of Narodowy Bank Polski, the central bank of Poland.

Each year, in parallel with the budget project presented by the government, the MPC sets the bases of monetary policy. It sets the level of the NBP’s interest rates, the rules and levels of bank’s reserve obligations, sets an upper limit on obligations resulting from loans taken by the NBP in foreign banking and financial institutions.

The MPC is made up of: Council Leader, who is the President of the NBP, and nine other members, selected in equal parts by the President of Poland, the Sejm and the Senate. Members of the MPC are chosen to serve for six-year terms.

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