Poland's monetary policy to be impacted by the personnel changes in MPC next year

Poland would see personnel changes in its Monetary Policy Committee next year. This might not automatically lead to cuts in the interest rates, but the risk of one rate prevails in February or March in 2016, which is priced in to be around 25 bp by investors.

"We think the implementation of some of the new government's measures could stimulate inflation. We keep our view that Poland is likely to exit deflation in Q1 2016", says Societe Generale in a research note. 

There are possible situations of rate cuts being stable for long term. However the key rates seems unlikely to change in next year.