November 02, 2023 08:26 GMT
Coalition Talks Enter Final Stage, NBP's Kotecki Says Central Bank Should Stay Put
- Third Way's Ryszard Petru told Polsat News that the incoming three-party coalition needs to send a signal to President Andrzej Duda that it has agreed on a joint policy agenda, which in his view will happen "exactly in one week's time". Separately, the Left's Krzysztof Gawkowski told TVN24 that further talks are scheduled for today and tomorrow and a coalition pact could be finalised by the end of this week and announced next week. This is in line with a source report published by Rzeczpospolita, suggesting that Thursday and Friday will see further rounds of negotiations between the leaders of the three pro-EU parties.
- NBP's Ludwik Kotecki told Biznes24 that an interest-rate hike in November should be ruled out and said that the central bank should stand pat until it has a clearer picture of the incoming government's fiscal plans. Kotecki is seen as the second most hawkish policymaker in the Monetary Policy Council after Joanna Tyrowicz.
- Poland's S&P Global Manufacturing PMI ticked higher to 44.5 from 43.9, narrowly topping the 44.4 median estimate in a Bloomberg poll. S&P's Trevor Balchin wrote that the index " registered its first back-to-back rise since the start of 2023 in October" but there are signs that "output has further to fall in the coming months".