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NBP Governor Holds Presser, PM Tusk Announces Cabinet Reshuffle

POLAND
  • The National Bank of Poland (NBP) voted to keep interest rates unchanged, in line with expectations. The Monetary Policy Council (MPC) reiterated that the inflation outlook is clouded by uncertainty related to i.a. the impact of fiscal and regulatory policy on price developments, adding the phrase "including on inflation expectations." The Council also pointed to a "marked" wage growth, thus marginally sharpening its language on the matter. Governor Adam Glapinski will hold his press conference today at 14:00BST/15:00CEST.
  • Prime Minister Donald Tusk will replace four ministers at 08:12BST/09:12CEST, as those running in the European election are set to resign. There is speculation that Minister Coordinator of Special Services Tomasz Siemoniak will take on the Interior portfolio in addition to his current role.
  • Money.pl reported that the ruling coalition is gradually pivoting towards support for building a major transport hub in central Poland, a major infrastructural project proposed by the previous administration. EU Funds Minister Katarzyna Pelczynska-Nalecz said that the decision will be made within the coming weeks, while her deputy Maciej Lasek said that the investment could be finished in 2032.
  • S&P and Fitch may review Poland's credit rating after hours today.

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