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Government May Introduce Local Lockdowns

POLAND
  • Finance Minister Tadeusz Koscinski said in a conference today that Poland may reintroduce local lockdowns in order to prevent another 'worse-case' scenario from happening again.
  • As CEE governments have been constantly criticized over the poor management of the Coronavirus pandemic (last winter / spring), leaders will be more 'risk averse' this time to avoid losing popularity.
  • FinMin Koscinski added also that Polish economy will emerge from the Covid 4th wave 'without excessive costs'.
  • Today's speech sounded more optimistic than the recent comments from Health Minister Adam Niedzielski; he said that the government may take 'drastic steps' in case the situation continues to deteriorate.
  • The stringency and longevity of the restrictions will strongly depend on the magnitude of the 4th wave in the coming weeks.
  • USDPLN is unchanged following Koscinski comments, currently trading slightly above 3.98; resistance to watch on the topside stands at 4.

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