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Glapinski To Hold Press Conference, Poland Moves Closer To Securing EU Recovery Funds

POLAND
  • The NBP left interest rates unchanged and threw no curveballs in the statement yesterday. December's slowdown in consumer inflation, although expected to be followed by a temporary spike, played into the hands of the dovish wing of the MPC and allowed it to stand its ground. The focus turns to a press conference with Governor Adam Glapinski, who will speak at 14:00GMT/15:00CET to explain the monetary policy decision.
  • Poland moved closer to unlocking more than EUR25bn in EU recovery funds as parliament approved a bill easing the rules regulating onshore wind farm development and rejected Senate amendments to critical court legislation, sending it to the President. EU Justice Commissioner tweeted that he "took note" of the adoption of the new law on the judiciary and "will now continue to follow the next steps in the legislative process." President Andrzej Duda can now sign the court bill into law, send it to the Constitutional Court for review, or announce a veto, which may be overruled by a 3/5 majority in the lower house.
  • Onet reports that the ruling Law and Justice party is preparing a campaign plan, which might involve new fiscal announcements, with the party debating measures such as "tax cuts, support measures for rural areas, or the indexation of the 500+" social benefit programme. According to Onet, the ruling party has already taken the decision to contest the election as a single bloc with its junior coalition partner Solidarna Polska.
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