04.11.2026, 14:56 (UK time)
News
On Wednesday 4 November Poland’s Monetary Policy Council kept the NBP reference rate at 3.75%. On Thursday 5 November the Bank of England’s Monetary Policy Committee will announce its decision – together with a new Monetary Policy Report. The Bank of England’s rate is also currently 3.75%.
Analysis
Many of us live in two currencies. We earn in pounds, while paying off a flat in Poland or helping our parents. That is why both banks’ decisions affect us twice over. Some economists in the UK, including at Pantheon Macroeconomics, expect a rate rise in November. But that is a forecast, not a fact. The decision will only be made on Thursday.
What it means
When rates rise, variable-rate loans become more expensive, and savings may earn a little more. When they stay put, changes are small. The pound–zloty exchange rate reacts to the difference between the two banks’ decisions, but nobody can predict it precisely.
Risk
The worst thing we can do is act on headlines. On days like these, online “advisers” also appear, promising quick profits on currencies or cryptocurrencies. Let us be careful of them.
What to do
- Let us check when our fixed rate on a UK mortgage ends.
- Let us not rush to change savings or deposits – let us wait for Thursday’s decision.
- When sending money to Poland, let us compare rates and split larger amounts.
- When in doubt, let us ask an independent adviser or MoneyHelper.
How to read this
This is an editorial comment, not financial advice. We want one thing: for our readers to watch calmly, wait for the facts and stay safe. On Thursday we will report on the Bank of England’s decision.
THE BUSINESS TIME Editorial Team
Contact us
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Sources: Bank of England – MPC dates 2026; “Rzeczpospolita”, 04.11.2026; Share Talk – Pantheon Macroeconomics forecast, 15.10.2026
We assess factual corrections and substantive responses. Verified changes are reflected in our reporting.
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