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Funds Request Kicked into New Year

POLAND
  • Adding the recent NBP commentary, Maslowska stated that the baseline scenario for policy is for a stabilization of rates at their current level for “more than a dozen months” since the last hike.
  • Maslowska added that rate cuts are possible in 2024 if the decline in inflation is gradual. Maslowska sees a rate cut in 2023 as unlikely and would require the emergence of “extraordinary macroeconomic circumstances” including a very strong decline in CPI.
  • DGP writes today that Poland are to submit their motion for EU recovery fund payouts no earlier than mid-January. The wait before submission is due to the ruling PiS seeking to reach compromises on laws surrounding the Supreme Court, according to the piece. The January 11 – 13 sitting of parliament should take focus here.
  • A big data day for Poland, with wages, employment and PPI data all due for November at 10am local time / 0900GMT.

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