Central banks raise interest rates amid market volatility and SAFE cost concerns

The Federal Reserve and the European Central Bank have both raised interest rates by 25 basis points. In the United States, the Fed's decision to move rates to a range of 3.75% to 4% was unanimous, with officials maintaining a hawkish stance to combat inflation. This move has contributed to a correction in Wall Street, with the S&P 500 testing technical support levels.

In Poland, politician Mariusz Błaszczak has raised concerns regarding the costs of the SAFE program. He noted that the era of cheap money may not return quickly and warned that the program—which could provide up to 43.7 billion euros in loans—carries significant exchange rate risks for Poland. He emphasized that if the złoty weakens against the euro, the cost of servicing the debt will increase significantly.

Additionally, European Commission President Ursula von der Leyen announced that unused funds from the SAFE program may be redirected toward Ukrainian defense projects.