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NBP To Announce Rate Decision, Sejm To Debate Constitutional Tribunal Bill In Late May

POLAND
  • The NBP will announce its monetary policy decision today. Given the recent larger-than-expected slowdown in headline inflation and media activity by dovish MPC members, the central bank is widely expected to leave interest rates unchanged. There is no fixed time for the announcement of the rate decision or the subsequent release of the statement, but the NBP typically gives an early notice on the day. For more details on today's decision, see our preview including a summary of sell-side views here.
  • Krzysztof Sobolewski, Secretary General of the governing Law and Justice party, told PAP newswire that a draft bill tweaking the rules of procedure in the Constitutional Tribunal will be debated and put to the vote at the next parliamentary session on May 25-26. The bill lowers the minimum number of judges in cases which need to be heard by the full bench of Poland's top court. It is intended to allow judges loyal to Chief Justice Julia Przylebska to circumvent a boycott by six "rebels" who claim that Przylebska's term has expired. Their boycott prevents the Tribunal from ruling in a case over a key court reform needed to unlock access to EU funding.
  • 70% of respondents in an opinion poll for DGP/RMF FM said that they don't think that the problem of the influx of cheap Ukrainian grain into Polish markets has been solved. This included 51% of people who support Law and Justice.
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