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NBP's Kotecki Sees No Room For Rate Cuts, Ruling Party Finalises Election Lists

POLAND
  • Onet reports that the ruling Law and Justice (PiS) party's top brass are meeting every evening finalising the lists for the upcoming parliamentary elections. The full lists are expected to be announced on Thursday or Friday. One of the knowns is that party leader Jaroslaw Kaczynski will not stand as a candidate in Warsaw for the first time in more than three decades and will run in the southern city of Kielce instead.
  • NBP's Ludwik Kotecki told Dziennik Gazeta Prawna that the Monetary Policy Council shouldn't cut interest rates, because it cannot be sure that inflation will keep falling. He said that "we have looser fiscal policy, a weaker macro situation, but also statistically higher inflation," which amounts to a situation where there are no conditions to cut.
  • The central bank will publish the minutes of its July monetary policy meeting today.
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