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Glapinski Wins Second 6Y Term

POLAND
BulletEM BulletEmerging Markets
  • Yesterday, NBP Glapinski won a second 6-year term as central bank governor.
  • The news was largely priced in by the market despite some uncertainty due to legal issues; EURPLN is nearly unchanged and continues to trade between its 100DMA (4.6330) and 50DMA (4.69).
  • This week, PAP news agency reported that the leadership of Poland’s ruling Law & Justice party will discuss an option of holding early elections in the summer (BBG).
  • Rumours were starting to circulating in early 2022 as deputy PM Jarosław Kaczyński was starting to lose patience with coalition partner Zbigniew Ziobro, whose reforms as Justice Minister had ‘deprived’ Poland from receiving EU recovery funds.
  • As recession odds have been surging across Europe following the Ukraine war shock, political pressure has also been rising as Poland now rely 'heavily' on EU funds.
  • Poland will report the final CPI data for April this morning at 9am (London).
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  • Yesterday, NBP Glapinski won a second 6-year term as central bank governor.
  • The news was largely priced in by the market despite some uncertainty due to legal issues; EURPLN is nearly unchanged and continues to trade between its 100DMA (4.6330) and 50DMA (4.69).
  • This week, PAP news agency reported that the leadership of Poland’s ruling Law & Justice party will discuss an option of holding early elections in the summer (BBG).
  • Rumours were starting to circulating in early 2022 as deputy PM Jarosław Kaczyński was starting to lose patience with coalition partner Zbigniew Ziobro, whose reforms as Justice Minister had ‘deprived’ Poland from receiving EU recovery funds.
  • As recession odds have been surging across Europe following the Ukraine war shock, political pressure has also been rising as Poland now rely 'heavily' on EU funds.
  • Poland will report the final CPI data for April this morning at 9am (London).