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NBP Reports Financial Loss For 2022, New Ukrainian Grain Directive Takes Effect

POLAND
  • The NBP published the vote splits from its March 8 monetary policy meeting. The central bank kept interest rates unchanged after rejecting motions to deliver a 100bp hike (for: Tyrowicz) and a 25bp hike (for: Kotecki, Litwiniuk). Separately, the NBP reported a PLN16.94bn loss for last year, reversing a PLN10.97bn gain booked for 2021.
  • Poland's Ministry of Economic Development and Technology published a directive allowing for the transit of Ukrainian grain through Polish territory, provided that the transports will be headed for one of four Polish seaports or abroad. The directive takes effect today and is a result of urgent Polish-Ukrainian negotiations concluded earlier this week.
  • Germany said that it will remove its Patriot missile-defence systems from Poland by June and from Slovakia by the end of the year. A spokesperson for the German Defence Ministry said that "Berlin is trying to make the best use of its limited military capabilities." Germany relocated two Patriot batteries to Poland in January after a stray rocket fell on the Polish territory last year killing two civilians.

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