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Activity Data & Bond Auction Eyed

POLAND
BulletEM BulletEmerging Market NewsHomepageBond Market News
  • NBP's Iwona Duda told Bloomberg that the central bank will likely keep the reference rate unchanged through the rest of this year and will only consider gradual easing in 2025 as any hasty moves would create risks. In her view, the key sources of concern are currently wage growth and uncertainty around food and energy prices. Meanwhile, Duda refused to speculate on the exact scope of possible rate cuts next year.
  • The parliamentary Constitutional Accountability Committee (ODK) gave a positive formal assessment of the motion to put NBP Governor Adam Glapinski on trial, returning it to the Speaker. He will now consult parliamentary leaders before deciding on whether to trigger the relevant procedure, which would begin with a probe by the ODK to find out if there are grounds for referring the case to the Tribunal of State.
  • Statistics Poland will release the second batch of April economic activity data at 09:00BST/10:00CEST, including construction output and retail sales. Consensus looks for a 5.2% Y/Y increase in retail sales.
  • The Finance Ministry will offer PLN5bn-10bn worth of OK0426, DS0727, PS0729, WZ1129 and DS1034 at an auction today.
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  • NBP's Iwona Duda told Bloomberg that the central bank will likely keep the reference rate unchanged through the rest of this year and will only consider gradual easing in 2025 as any hasty moves would create risks. In her view, the key sources of concern are currently wage growth and uncertainty around food and energy prices. Meanwhile, Duda refused to speculate on the exact scope of possible rate cuts next year.
  • The parliamentary Constitutional Accountability Committee (ODK) gave a positive formal assessment of the motion to put NBP Governor Adam Glapinski on trial, returning it to the Speaker. He will now consult parliamentary leaders before deciding on whether to trigger the relevant procedure, which would begin with a probe by the ODK to find out if there are grounds for referring the case to the Tribunal of State.
  • Statistics Poland will release the second batch of April economic activity data at 09:00BST/10:00CEST, including construction output and retail sales. Consensus looks for a 5.2% Y/Y increase in retail sales.
  • The Finance Ministry will offer PLN5bn-10bn worth of OK0426, DS0727, PS0729, WZ1129 and DS1034 at an auction today.