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NBP Dep Gov Kightley Says Inflation Spike Will Be Temporary, Poland Reports Flash April CPI

POLAND
  • NBP Deputy Governor Marta Kightley told Polsat News that the expected increase in inflation in 2H2024 will be temporary and "there is nothing to be afraid of." The official explained that it was caused by the expiry of anti-inflationary shields. She also confirmed that she would replace Governor Adam Glapinski should he get suspended or ousted as part of the ongoing probe.
  • Finance Minister Andrzej Domanski said that inflation will accelerate to +5%-6% Y/Y but we should not see double-digit readings anymore. He declared that the government will increase the annual tax-free allowance to PLN60k by the end of this parliamentary term. We may see more headlines surrounding fiscal matters trickling through today, with the Cabinet set to discuss these issues.
  • Prime Minister Donald Tusk will deliver a statement at 08:30BST/09:30CEST after his urgent meeting with the Prosecutor General and the Minister Coordinator of Special Services. It has been suggested that the meeting concerned the appointment of a Lebanese businessman with links to Hamas and Iran as chief of state-owned oil refiner Orlen's Swiss unit by its previous management.
  • Statistics Poland will release preliminary April CPI data at 09:00BST/10:00CEST. Inflation may have rebounded to +2.5% Y/Y from +2.0% Y/Y recorded in March. Click here to see a mini-preview of the publication.
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