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FX Loan Exposure Puts Pressure on Banks; Economists Optimistic about Consumer Spending

POLAND

LOCAL NEWS

  • Poland could face PLN 5-6 bln cost of the tax shield plotted for banks with FX loan exposures that would embark on loan conversions - Gazeta Prawna
  • Local economists say Poland could see smaller than expected decline in consumer spending
  • Translates to a milder GDP slide in Q4.
  • Economist Luczkowski expects GDP to decline ca. 3% y/y in Q4 vs 4-5% slide- Rzeczpospolita-
  • 1300 GMT: Nov Money Supply M3 MoM, est. 0.9%, prior 1.2%, YoY, est. 16.8%, prior 17.0%
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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