“New credit holidays They work for those who don't catch on, as if the monetary policy board suddenly raised their rates by about 4-5 basis points. interest,” writes economist Rafal Mundri on X platform (formerly Twitter).
He also reminded that the preliminary round will be announced next Friday The question of inflation by December. According to him, the price increase will be about 6.5%. “The meeting of the Monetary Policy Council will be held next week. Neither an increase nor a decrease in tariffs can be expected,” he added.
In response to his entry, he also estimated that “the credit holidays canceled out the effect of the increase in interest rates on the money supply by about PLN 8-9 billion.” And although it expects a tightening of monetary policy in enforcement Minister of FinanceThen “even if inflation picks up a bit, I don't expect the monetary policy board to raise rates.”
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Credit holidays in a new way
According to the calculations of the Ministry of Finance, as of September 30, 2023, the total cost of credit holidays for banks so far amounted to PLN 12.8 billion. At this time, the credit holidays were extended until the end of April. In the project, it is indicated that in the first quarter, the installment payment should be suspended in March, and in the following quarters, one month in each quarter. An income criterion was also proposedWhich was criticized by the former Minister of Development Valdemar Buda.
“At the same time, it is proposed that the criterion under which the suspension of loan repayment will be available to the customer if the arithmetic mean of the RdD (repayment on income) value will be as per the October Act. 9 of 2015 on the support of borrowers who have taken a housing loan and are in a difficult financial situation) will exceed 35% during the three months preceding the month of submission of the application. – added to the document
It added that the maximum annual value of credit holidays, assuming that 100% of people will take advantage of them, is based on estimates based on data from the Polish Financial Supervisory Authority. Authorized persons are PLN 3.6 billion. “At the same time, if we assume that the same percentage of eligible persons as the previous credit holidays will take advantage of the credit holidays, the estimated cost will be PLN 2.5 billion,” the information said.
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