23.02.202613:00:00UTC+00Poland’s M3 Money Supply Growth Eases to 10.0% in January, Year-on-Year Expansion Still Robust

Poland’s broad money supply (M3) growth slowed slightly at the start of 2026, with the year-on-year rate easing to 10.0% in January from 10.4% in December 2025. The data, updated on 23 February 2026, indicate that while liquidity in the Polish economy remains ample, the pace of monetary expansion has moderated marginally.

Both the current and previous readings are calculated on a year-over-year basis, comparing each month’s M3 level with the same month a year earlier. The December 2025 figure showed a 10.4% rise versus December 2024, while the latest January 2026 reading reflects a 10.0% increase compared with January 2025.

The slight deceleration in M3 growth may signal early signs of stabilisation in monetary conditions after a period of strong expansion. However, with double‑digit year-on-year growth still in place, the data suggest that overall liquidity remains supportive for credit activity and domestic demand in Poland.