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Changes in interest rates made by the Monetary Policy Board do not affect interest rates on credits, loans and deposits only. Many other financial parameters depend on the level of interest rates, the most important of which are the amount of interest on tax arrears or overdue debts; It has also grown sharply since last October. At established rates, 10 thousand. PLN debt will increase by 825 PLN after a year.
Raising interest rates means increasing interest on default.
- The Monetary Policy Board decided to raise the reference rate to 2.75%. – This is the largest number since 2013.
- The reference rate affects, among other things, the interest rate on loans, but also the amount of legal interest for the delay.
- According to the law, from now on, creditors can add a total of 8.25 percent to the debt. Penalty of legal fine on accounts receivable per year.
- At established rates, 10 thousand. PLN debt will increase by 825 PLN after a year.
Higher loan payments, bigger energy bills, higher prices in stores – the buildup of increases in recent months may delay the indebtedness decision to pay their debts. However, it is never a good move – this kind of accumulation makes it difficult, for example, to take a loan or equipment in installments or a telephone subscription, and because of the penal interest, the debt is growing every day. Currently, debt avoidance is also associated with very serious financial consequences.
According to the Polish National Bank Law of August 29, 1997, reference rates in Poland are set by the Monetary Policy Board. It is the decision-making body of NBP, which makes decisions about interest rates based on the analysis of various macroeconomic indicators, as well as economic factors, such as the labor market, the situation in the industry, the economic situation, the situation in public finances, the exchange rate and the level of inflation.
