Late Poll Confirms Pro-EU Parties Should Be Able To Form Government

Ipsos late poll showed that pro-EU opposition parties remain on track to form government with 248 seats in the new parliament as the current ruling Law and Justice (PiS) party's projected share of seats fell below 200.

• Reminder that 231 seats are needed to command a simple majority in parliament, while 276 are needed to override a presidential veto (assuming that all lawmakers would participate in the vote).
• The outcome boosted the zloty, with EUR/PLN last sitting 1.5% below neutral levels after fully erasing gains registered on the back of the NBP's unexpected 75bp rate cut delivered in September.
• For reference, the results of the initial exit poll are summarised here. Official results may not be available until Tuesday, with just over 15% of votes counted so far.