MNI BRIEF: Caixin Apr Manufacturing PMI Hits Over One-year High

MNI BRIEF: China April Mfg. PMI Moderates To 50.4

MNI BRIEF: Aussie Retail Sales Fall 0.4% M/M In March

MNI: PBOC Net Injects CNY438 Bln Via OMO Tues; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1063 Tues; -4.47% Y/Y

CHINA PBOC INJECTS CNY440 BILLION VIA 7-DAY REVERSE REPOS TUES

INDON Sov Curve Flatter, IDR Bond Auction, Microsoft AI Investment

MNI: FRANCE Q1 FLASH GDP +0.2% Q/Q, +1.1% Y/Y

MNI: FRANCE MAR CONSUMER SPENDING +0.4% M/M, +0.5% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Lower House To Vote On Court Bill, NBP's Wnorowski Says Inflation Spike Could Warrant Hikes

POLAND
  • The lower house of parliament will today vote on the court legislation needed to unlock EUR35.4bn in EU recovery funds. A parliamentary committee controlled by the ruling party recommended rejecting all the amendments tabled by the opposition. The government needs the support or abstention of some opposition lawmakers as junior coalition party Solidarna Polska refuses to support the bill. Should the bill be approved today, it would be sent to the upper house controlled by the opposition, which would likely lead to another attempt to amend the legislation. Government spokesperson Priotr Muller said that if the legislative process is completed in the coming weeks, Poland could receive the suspended funding in May or June.
  • NBP's Henryk Wnorowski told Biznes24 that a strong inflationary impulse in 1Q2023 could warrant the resumption of the rate-hike cycle. He emphasised that he does not expect consumer prices to grow faster than +20% Y/Y, but it this scenario materialises, the central bank could raise interest rates once or twice by "small" increments, albeit it is "too early to speculate." Wnorowski's colleague from the MPC Ireneusz Dabrowski told RMF FM yesterday that inflation will likely peak below +20% Y/Y in February-March and noted that there could be room to cut interest rates near the turn of the year, albeit he refused to rule out renewed tightening either.
  • Poland's statistics bureau will publish the final CPI readings for December at 10:00CET/09:00GMT. Also on the radar today are trade balance and current account balance (13:00CET/12:00GMT), as well as a review of Poland's sovereign credit rating by Fitch.
EM BulletHomepagePolitical RiskPolitical Risk BulletBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.