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POLAND: Finance Ministry Holds T-Bill Auction, MPC Meets This Week

POLAND
PolandCEEMEAEM BulletBulletEmerging Market News
  • The National Bank of Poland (NBP) is expected to leave interest rates unchanged this week after another "placeholder" meeting before the publication of the next Inflation Report in March. Most Monetary Policy Council (MPC) members seem to believe that rate cuts could start in 2H25 at the earliest, with Governor Adam Glapinski standing by his relatively hawkish views. The Governor will hold his regular press conference on Thursday afternoon.
  • The Finance Ministry is looking to sell up to PLN3bn of 294-day bills today. Poland resumed sales of short-term securities in January for the first time since the COVID-10 pandemic, citing requests from financial market participants, and is looking to hold these auctions on a regular basis. Separately, the Finance Ministry said in its monthly debt issuance plan that it will offer PLN5bn-10bn of OK0127, PS0130, WZ0330 and DS1034 bonds each on Feb 12, Feb 19 and Feb 26.
  • The latest IBRIS opinion poll for Onet showed that Warsaw Mayor Rafal Trzaskowski remained the clear frontrunner to win the upcoming presidential election. Survey results indicated that if the election was held today, Civic Coalition's Trzaskowski would secure 37.3% of the vote, holding a comfortable lead over Law and Justice's Karol Nawrocki, who would also advance to the run-off with 23.9% of the vote.
  • S&P Global Manufacturing PMI will be released at the top of the hour. Consensus looks for an uptick to 48.5 from 48.2 registered in December.
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  • The National Bank of Poland (NBP) is expected to leave interest rates unchanged this week after another "placeholder" meeting before the publication of the next Inflation Report in March. Most Monetary Policy Council (MPC) members seem to believe that rate cuts could start in 2H25 at the earliest, with Governor Adam Glapinski standing by his relatively hawkish views. The Governor will hold his regular press conference on Thursday afternoon.
  • The Finance Ministry is looking to sell up to PLN3bn of 294-day bills today. Poland resumed sales of short-term securities in January for the first time since the COVID-10 pandemic, citing requests from financial market participants, and is looking to hold these auctions on a regular basis. Separately, the Finance Ministry said in its monthly debt issuance plan that it will offer PLN5bn-10bn of OK0127, PS0130, WZ0330 and DS1034 bonds each on Feb 12, Feb 19 and Feb 26.
  • The latest IBRIS opinion poll for Onet showed that Warsaw Mayor Rafal Trzaskowski remained the clear frontrunner to win the upcoming presidential election. Survey results indicated that if the election was held today, Civic Coalition's Trzaskowski would secure 37.3% of the vote, holding a comfortable lead over Law and Justice's Karol Nawrocki, who would also advance to the run-off with 23.9% of the vote.
  • S&P Global Manufacturing PMI will be released at the top of the hour. Consensus looks for an uptick to 48.5 from 48.2 registered in December.