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EU Top Court To Rule In CHF Loan Case, Parliament May Tweak Constitutional Tribunal Law

POLAND
  • Bloomberg reports that the European Union's top court will rule in a case over CHF-denominated mortgages on June 15, citing a letter received by the legal team of the Stop Banking Lawlesness lobby. A non-binding opinion issued by the CJEU's advisor in February pointed to a pro-consumer stance, applying pressure to local banking stocks. The court's final verdicts are typically based on the legal opinions prepared by advisors.
  • Polish Sejm (lower house of parliament) may discuss legislation changing the quorum in the Constitutional Tribunal as soon as tomorrow, Rzeczpospolita daily reports. The ruling Law and Justice Party wants to adopt a bill that would break the deadlock caused by six judges who are boycotting the Tribunal's proceedings amid a dispute over the Chief Justice's term.
  • Polish Border Guard said that its aircraft was intercepted by a Russian fighter jet while participating in a Frontex mission over the Black Sea. The Russian jet conducted "aggressive and dangerous manoeuvres" which caused the Polish crew to temporarily lose control over their aircraft. Government spokesman Piotr Muller told Polsat News that Poland sees it as a "deliberate provocation" by Russia.
  • The NBP's Monetary Policy Council will begin its two-day meeting tomorrow. The rate announcement and statement will be released on Wednesday, with the press conference with Governor Adam Glapinski coming up Thursday. Poland's central bank will likely keep interest rates unchanged.
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