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Business & Economics

DYNAMICS OF LENDING ACTIVITY OF POLISH BANKING SECTOR TOWARDS LOW INTEREST RATE POLICY OF CENTRAL BANKS
Irena Pyka, Aleksandra Nocon

ABSTRACT. The article concentrates on the analysis of the mechanism of low interest rates as an instrument of unconventional monetary policy of the major central banks during the global financial crisis. In Polish banking system, zero interest rate policy was characterized by the specificity, the prerequisites and main features of which are an important subject of analysis in the study. Meanwhile, empirical research was subordinated to the assessment of the impact of the decrease of main interest rates of the National Bank of Poland on the elicitation and change of the credit structure in Polish banking sector. Periodic comparisons of the observed volume and their assessment partially confirmed hypothesis of the study, which constitutes that reduction of interest rates of the National Bank of Poland in the years of 2007-2015, contributed to the increase of dynamics of lending activity in Polish banking sector  .

KEYWORDS: main interest rates, lending activity, zero interest rate policy, loan receivables, structure by type of bank's loans, Poland .

JEL classification: E51, E52, E58, E43, G01.