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NBP Announces Rate Decision, Poland Scrambles Fighter Jets As Russian Missiles Pound Ukraine

POLAND
  • The National Bank of Poland (NBP) is widely expected to keep interest rates unchanged for the fourth consecutive time. There is no fixed time for the release of the rate decision and the subsequent publication of the statement. Governor Adam Glapinski will hold a press conference tomorrow at 14:00GMT/15:00CET to discuss the current economic situation and explain the Council's decision. Our preview (click here) describes the context of this week's MPC meeting in more details and sums up sell-side views.
  • Poland is seeking to mend ties with its partners from the Weimar Triangle. Gazeta Wyborcza reported that Prime Minister Donald Tusk will head to Paris for a meeting with President Emmanuel Macron on Monday, before flying to Berlin for talks with Chancellor Olaf Scholz. On Monday, he will be accompanied by Foreign Minister Radoslaw Sikorski who will meet with his French and German counterparts.
  • Russia launched a massive missile strike against Ukraine this morning, prompting Poland to activate relevant procedures and scramble its fighter jets. Defence Minister Wladyslaw Kosiniak-Kamysz commented that Russia seems to have managed to rebuild its capacity to conduct regular massive air strikes by switching domestic industry into the war mode and securing the supply of weapons from North Korea.
  • Two ousted MPs from the main opposition Law and Justice (PiS) party are reportedly looking to enter the plenary hall, which would raise tensions with the ruling coalition and disrupt the ongoing session. PiS lawmakers are currently gathering in front of parliament's buildings, seemingly planning to escort their colleagues. If the two officials attempt to enter the plenary hall, they may have to be stopped by the guards.
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