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MPC's Hards Calls for Long-Term Repo Ops; Chancellery Discussing EU RoL

POLAND

LOCAL NEWS

  • PM's chancellery and the Ministry of Justice reportedly cooperated on Poland's motion to the Court of Justice of the EU questioning making the EU funds conditional on the rule-of-law observance.
    • Chancellery adopted the Ministry of Justice arguments but put them in a somewhat milder form
  • MPC's Hardt: Poland needs tools, such as long repo operations, to be able to affect the long end of the yield curve.
    • Says: Rising yields are more important than FX rate.
    • QE program in its current shape "has obvious limitations"
    • Inflation could accelerate faster than predicted in the central bank's projection and exceed 4% in coming months
    • Poland should conduct an analysis whether climate issues should be accounted for in the country's monetary policy
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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