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Macroeconomic Data On Tap

  • Finance Minister Magdalena Rzeczkowska said that Poland's public debt is at safe levels, while unemployment is almost the lowest in the EU. She argued that Poland managed to weather the shocks generated by the COVID-19 pandemic and the war in Ukraine as the government responded by creating special extrabudgetary funds to finance additional spending.
  • State development fund PFR head Pawel Borys said that extending the so-called mortgage payment holidays by one or two quarters, i.e. until interest rates fall below 6%, would be justified. The measure is set to expire at the end of this year, but multiple officials floated the idea of an extension.
  • The first batch of June macroeconomic data, including factory-gate inflation, industrial output, wages and employment, will cross the wires at 09:00BST/10:00BST. This will be followed by retail sales, due tomorrow morning. The median estimates for today's releases are as follows:
    • PPI: +1.0% Y/Y
    • industrial output: -1/9% Y/Y
    • average gross wages: +12.1% Y/Y
    • employment: +0.4% Y/Y

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