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Cabinet To Discuss Loan Moratoriums, NBP Begins Two-Day Meeting

POLAND
  • The ruling coalition unveiled a legislative package to revamp the Constitutional Tribunal, which includes a draft constitutional amendment. The main opposition Law and Justice (PiS) party refused to cooperate with the government, while the ruling majority is not large enough to unilaterally amend the constitution. However, it will likely adopt a resolution expressing its assessment of the current situation and calling on incorrectly selected judges to resign.
  • The Cabinet will today discuss a possible extension and tweaks to the mortgage holiday scheme. Finance Minister Andrzej Domanski recently said that loan moratoriums would be made "slightly" more beneficials for borrowers. Elsewhere, the government may also discuss the future of the suspension of VAT on food, one of the key anti-inflation measures.
  • The Monetary Policy Council (MPC) begins its two-day meeting, with the rate decision coming up tomorrow. Governor Adam Glapinski will hold his press conference on Thursday. The NBP will also release its new inflation projection, with the main parameters to be included in the statement on Wednesday.
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