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NBP's Maslowska Flags Potential For Rate Cut This Year, Polish Data Dump Up Today

POLAND
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  • NBP's Gabriela Maslowska suggested that Poland could start discussing monetary policy easing when CPI inflation eases below +10% Y/Y and when there is confidence that inflation is clearly on a downtrend. She noted that inflation could slow to single-digit levels in "early fall," rate cuts could start this year but it's not certain, while the first cut could be of the magnitude of 25bp. Her comments contrast with those of her hawkish MPC colleagues late last week, who said talking about rate cuts is "irresponsible" (Tyrowicz) and there are no such debates within the rate-setting panel (Kotecki).
  • Gazeta Wyborcza daily this morning cites an opinion poll which showed that contesting lower house election as a single bloc is the only option for opposition parties to defeat the incumbents this autumn. The newspaper noted that this scenario is "rejected by the [opposition] leaders but expected by their voters."
  • Poland will publish data on PPI, industrial output and wages for February at 09:00GMT/10:000CET.
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  • NBP's Gabriela Maslowska suggested that Poland could start discussing monetary policy easing when CPI inflation eases below +10% Y/Y and when there is confidence that inflation is clearly on a downtrend. She noted that inflation could slow to single-digit levels in "early fall," rate cuts could start this year but it's not certain, while the first cut could be of the magnitude of 25bp. Her comments contrast with those of her hawkish MPC colleagues late last week, who said talking about rate cuts is "irresponsible" (Tyrowicz) and there are no such debates within the rate-setting panel (Kotecki).
  • Gazeta Wyborcza daily this morning cites an opinion poll which showed that contesting lower house election as a single bloc is the only option for opposition parties to defeat the incumbents this autumn. The newspaper noted that this scenario is "rejected by the [opposition] leaders but expected by their voters."
  • Poland will publish data on PPI, industrial output and wages for February at 09:00GMT/10:000CET.