MNI China Daily Summary: Friday, January 17

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NBP: Governor's Presser To Begin Shortly

NBP
PolandCEEMEAEM BulletBulletEmerging Market News

NBP Governor Adam Glapinski will begin his post-MPC press conference at the top of the hour (14:00GMT/15:00CET). The Monetary Policy Council left the reference rate unchanged at 5.75% yesterday but most analysts took note of a hawkish shift in the tone of the statement. This came after the Governor's unexpected hawkish pivot at the December press conference, which was subsequently challenged by several of his colleagues from the Council. The rate decision comes after Statistics Poland confirmed a downward revision of flash December CPI reading, with the benchmark measure of core inflation (CPI ex-food and energy) falling by a larger-than-expected 0.3pp. At the same time, the declines in alternative measures of underlying inflation were more modest, while part of the downtick was attributed to the introduction of childcare subsidies.

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NBP Governor Adam Glapinski will begin his post-MPC press conference at the top of the hour (14:00GMT/15:00CET). The Monetary Policy Council left the reference rate unchanged at 5.75% yesterday but most analysts took note of a hawkish shift in the tone of the statement. This came after the Governor's unexpected hawkish pivot at the December press conference, which was subsequently challenged by several of his colleagues from the Council. The rate decision comes after Statistics Poland confirmed a downward revision of flash December CPI reading, with the benchmark measure of core inflation (CPI ex-food and energy) falling by a larger-than-expected 0.3pp. At the same time, the declines in alternative measures of underlying inflation were more modest, while part of the downtick was attributed to the introduction of childcare subsidies.