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NBP to Hold News Conference After Lawmakers Submit Motion to Start Glapinski Probe

POLAND
  • The National Bank of Poland will hold a news conference at 2:30pm in Warsaw after lawmakers filed a motion to probe Governor Adam Glapinski, the press office said in an emailed invitation according to Bloomberg. Few other details have been provided, but NBP press conferences on similar matters in the past have been used to defend its operations amid criticism from Prime Minister Donald Tusk's government.
  • Regarding the probe into Glapinski, the parliamentary motion is the first step in a procedure that could land the governor in front of a special tribunal. Its submission to the parliamentary speaker triggers an investigation by a committee of lawmakers, which involves taking testimony from witnesses including Glapinski and may take as long as a 12 months. (BBG)
  • Tusk and his allies attacked Glapinski in last year’s election campaign, calling him a partisan of the then-ruling Law & Justice party who used his position to engage in politics.
  • EUR/PLN has reacted little to the developments, standing 0.06% firmer on the day at typing and within recent ranges.
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