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Market Participants Prepare For NBP Week

POLAND
  • The focus turns to next week, which will be dominated by NBP matters. The central bank will conclude its two-day meeting on Wednesday, Governor Glapinski will likely hold his press conference the following day, while on Friday the central bank will publish the minutes of its previous monetary policy meeting. Next week's monetary policy review will come with an updated set of economic forecasts, which policymakers said will be important for determining the future path of interest rates. Morgan Stanley yesterday suggested that Glapinski could formally declare the end of the rate-hike cycle, something he has so far refused to do.
  • Gazeta Wyborcza reported that Mayor of Sopot Jacek Karnowski may have been invigilated by the state's security agencies. Karnowski is a key member of a movement of local government leaders which will cooperate with parliamentary opposition in this year's Senate election. The incumbent administration has been accused of deploying Israeli-produced Pegasus spyware against a number of opposition leaders since AP first reported it in 2021.
  • Ruling Law & Justice party leader Jaroslaw Kaczynski told state broadcasters that U.S. President Joe Biden came to Warsaw with "interesting ideas" for a new security architecture in this part of Europe but didn't disclose them publicly. Kaczynski added that Poland will continue to boost national defence to play a significant role in this plan.

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