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NBP Announces Rate Decision, Tusk Expected To Be Voted PM Next Tuesday

  • The National Bank of Poland (NBP) will announce its monetary policy decision later today. There is no fixed time for the announcement - the central bank used to give an early notice approximately 15 minutes before, but this was not the case on the prior two occasions, albeit Governor Glapinski promised to look into it. The NBP is widely expected to keep interest rates unchanged amid heightened uncertainty around fiscal and regulatory policy outlook (click here to see our preview). The Governor will hold his usual press conference to explain the decision and discuss the state of the economy tomorrow at 14:00GMT/15:00CET.
  • The agenda for next week's parliamentary meetings has been published on the Sejm's website, providing a tentative timeline for the election of the new government. Prime Minister Mateusz Morawiecki will deliver his policy speech on Monday at 10:00GMT/11:00CET, which will be followed by a debate and a vote of confidence at 14:00GMT/15:00CET. The agenda assumes that Morawiecki's government will be voted down and a new candidate will be appointed by parliament later on Monday. The new candidate (presumably Donald Tusk) will deliver a policy speech on Tuesday at 08:00GMT/09:00CET before a vote of confidence at 14:00GMT/15:00CET.
  • S&P Global said that Poland's credit rating would benefit from an inflow of suspended EU funds, with efforts to secure access to the money set to be "closely observed". On the other hand, any violation of the central bank's independence "would be something that we could also take into account".

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