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NBP Litwiniuk Cannot Rule Out a 20-Percent Peak in Inflation

POLAND
  • Government Spokesperson Piotr Muller said that Poland agreed with EU on recovery fund 'milestones' and is now awaiting final signoff for its spending plan.
    • As a reminder, the approval of the 36bn EUR funds (loans and grants) has been delayed for nearly one year amid rule of law concerns.
  • On Friday, economic data showed that CPI inflation rose by 12.4% in April (Final), which was slightly more than the preliminary data (12.3%) that came out in the end of April.
  • NBP policymaker Litwiniuk mentioned in a recent interview that the central bank is raising interest rates too fast; however, he added that a 20 percent in inflation in the near term cannot be ruled out.
  • US Treasury Secretary Janet Yellen will meet Polish Prime Minister Mateusz Morawiecki, Finance Minister Magdalena Rzeczkowska and central bank Governor Adam Glapinski today (BBG).

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