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No Change In Rates Expected From NBP

POLAND
  • The National Bank of Poland (NBP) will likely stand pat on rates again as core inflation remains sticky and wage pressures are still acute. There is no fixed time for the release of the decision (the previous three were announced at 14:34BST, 14:28BST and 14:18BST) or the statement. Governor Adam Glapinski will hold his press conference tomorrow at 14:00BST/15:00CEST, around the same time when ECB President Christine Lagarde will speak in Frankfurt am Main. Click here to see our preview of the NBP's rate decision.
  • Puls Biznesu reported that Prime Minister Donald Tusk will support the construction of an airport and transportation hub (so-called CPK) in Baranow and may announce the details soon. Speculation that the new government could block the previous administration's flagship investment project triggered widespread backlash, as the dominant view among transport and military experts seemed to be that Poland needs a major logistical hub. According to Pulz Biznesu's information, the date of finalising the investment could be pushed back to 2032-35 from 2028.
  • Finance Minister Andrzej Domanski said that Poland is in talks with the European Commission over the potential launch of the Excessive Deficit Procedure (EDP). Warsaw insists that wider deficits are mostly driven by increased military spending, which was justified by extraordinary geopolitical circumstances.

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