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Government Ready to Make Fresh Judiciary Concessions

POLAND
  • Local focus is understandably on the missile strikes, with full coverage on the latest news and the upcoming NATO council meeting above.
  • Late yesterday, in more balanced comments relative to recent speeches from Kotecki and Tyrowicz, NBP’s Wnorowski said he still sees a chance for further rate rises despite the current pause. Wnorowski said he was surprised by the extent to which inflation expectations have deanchored, but is seeing signs of an impending recession that could be worsened by higher rates.
  • The government are reportedly ready to make further concessions on the judiciary in the latest push to meet commission requirements and unlock EU recovery funds, according to sources in DGP Daily. The piece acknowledges that the latest round of concessions could meet internal opposition from junior coalition partner lawmakers from Solidarna Polska.
  • Elsewhere, the push for fiscal savings continues as the PM has reportedly order all ministries to cut spending by 10%, with all high budget cost projects being blocked. Nonetheless, ministries are said to be struggling to find savings, according to DGP. Meanwhile, local governments are coming under further pressure from the uptick in interest rates, with many struggling to meet payments on their liabilities.
  • Core CPI data is due later today, with markets expecting M/M to slow to 1.0% from 1.4%, and Y/Y to rise to 11.1% from 10.7%.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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