The report examines how changes in interest rates by the Polish central bank affect the economy. Due to stable interest rates and predictable policy decisions, it is harder to predict how the economy will respond to rate changes. The study uses different models to analyze this, including ones that consider how different entities react to monetary policy decisions. The report also looks at how the central bank's communication can influence private sector expectations, even if interest rates stay the same. Overall, the study shows that the transmission of monetary policy in Poland is complex and uncertain due to these factors.