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Health Minister Sees Risk of a 4th Covid Wave In Late August

POLAND
  • This morning, Polish Health Minister Adam Niedzielski commented in Radio Plus that he sees risk of a 4th Covid Wave in late August, therefore wearing masks indoors will remain mandatory for longer.
  • This week, the attention will be on June Preliminary CPI (coming out on June 30), which is expected to ease down to 4.6% (from 4.7% the previous month). Inflation risks are still elevated, especially the food inflation which could pose further upside pressures in the medium term.
  • The majority of the MPC members are still in favor of keeping interest rates steady in order to stimulate the economic recovery as the uncertainty remains elevated (especially now with the risk of another Covid wave).
  • June manufacturing PMI is also coming out this week (July 1) and is expected to remain steady at around 57.2 (way above the 50-level that separates expansion from recession).
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