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NBP Seen Unchanged as Coalition Meets to Discuss EU Funds

POLAND
  • Today sees the conclusion of the two-day NBP decision, and the bank are expected to keep policy unchanged – with little fresh data or developments to move the needle since the last rate decision. Full MNI preview including summary of sell-side views here: https://roar-assets-auto.rbl.ms/files/49984/MNINBPPrevJan23.pdf
  • PM Morawiecki is set to meet junior coalition partners later today – with he regulation approval process needed for EU recovery funds the main topic for discussion.
  • Following government meetings on the energy crisis yesterday, the government have pledged job guarantees of up to 10 years on top of special bonuses for those working in coal mines or for coal-fired power plants, according to Polska. As part of the pledge, the government would raise wages every year and keep special status for higher pensions.
  • Rzeczpospolita see popular food prices continuing to grow at a double-digit clip this year, with dairy, meat, bakery, fruit and vegetable prices seen undergoing the biggest increases across Q1 and Q2 this year.
  • A number of outlets write on recently released corporate bankruptcy data, which show a 30% increase in the number of company bankruptcies and insolvency declarations for 2022, with Q4 the worst quarter of the year. DGP see that for the first time since at least 2016, the birth/death rate of companies fell into negative territory.

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