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Construction Sector Could See Two Years of Recession

POLAND
  • PLN rallied into the close Tuesday after comments from PM adviser Borys, who stressed that Poland is keeping liquidity tight in markets in order to shore up the PLN and curb inflation. The aide added that these actions have increased the cost of shorting the currency, helping stem speculation.
  • A Parkiet piece today adds to the concern for the house-building sector, which cites CEO of MJM as saying the construction sector is in for two years of slowdown and recession.
  • The government hold a press conference this morning at 9am local time (0800BST / 0300ET), at which ministers may mention the first sitting for debate on a draft bill to index pensions next year.

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