Narodowy Bank Polski

Monetary Policy Council

Andrzej Kaźmierczak

Professor of Economics

Andrzej Kaźmierczak
Born on 12 July 1950 in Warsaw.

In 1973, he graduated from the Central School of Planning and Statistics (CSPS) (at present: Warsaw School of Economics). He has conducted research and teaching activities in the School for years. In 1979, he obtained a Ph.D., and in 1986 – a postdoctoral degree, following which he was employed as a senior lecturer in the Finance Department of the CSPS; since 1993 - professor in the Chair of Banking of Warsaw School of Economics. In 2000, pursuant to the decision of the President of the Polish Republic, Mr Kaźmierczak received the title of professor of economics.

In the course of his research and teaching activities, he participated in internship programs in banks in the United Kingdom, the United States of America, Italy and Poland. He was lecturer at the Paweł Włodkowic Higher School in Płock and the Higher School of Management and Marketing in Warsaw. Member of the Scientific Council of the Collegium of Management and Finance and member of the Committee on Financial Sciences of the Polish Academy of Sciences.

He was member of the Supervisory Board of Powszechny Bank Kredytowy S.A. (1991-1993); participated in the work of the Economic Council, an advisory body to the President of Narodowy Bank Polski (1992-1997); in 1997 – member of the Board of Bank PEKAO S.A. In 1998-2005, member of the Social and Economic Council of the Government Centre for Strategic Studies, and from 1999, served as monetary policy expert in the Supreme Chamber of Control. In 2007, appointed member of the Committee on Financial Sciences of the Polish Academy of Sciences for the years 2007-2010. From 2009, he served as expert in the Office of the President of the Republic of Poland.

For years, Mr Kaźmierczak has specialised in issues related, among others, to the theory of money, monetary policy, money market and the objective of central bank activity, currency integration with the European Union, instruments and objectives of the monetary policy. He authored more than 100 research treatises, numerous expert opinions designated for teaching centres and public institutions. Author of recognised academic manuals. He was awarded the Medal of the National Education Commission (2006).

Married, with two daughters.

On 16 February 2010, the President of the Republic of Poland appointed Mr Andrzej Kaźmierczak as a member of the Monetary Policy Council.

NBP interest rates

Reference rate 1.50
Lombard rate 2.50
Deposit rate 0.50
Rediscount rate 1.75

Exchange rates

Table of 2018-05-18
1 EUR4.2958
1 USD3.6385
1 CHF3.6413
1 GBP4.9117
100 JPY3.2795

Economic outlook

Monthly data

Quarterly data

Financial markets



Narodowy Bank Polski
Świętokrzyska 11/21
00-919 Warszawa

+48 22 185 10 00
NIP: 525-000-81-98
REGON: 000002223
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