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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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No Deal On Turow Lignite Mine Before Czech Elections
- Poland does not see chance for deal on Turow lignite mine with Czech Republic ahead of Oct. 8-9 general elections there, Wirtualna Polska reports on its website, citing unnamed officials engaged in talks (BBG).
- Today, the NBP will hold an extra meeting but is not going to take any policy decisions.
- At 10am (London time), Parliamentary Finance Committee will discuss state guarantees to mortgage loans.
- On Friday, NBP member Eryk Lon wrote in an article that he is not yet determine how he is going to vote during the November meeting, but he is clearly against actions that could lead to a radical appreciation of the Zloty.
- NBP 'hawk' Lukasz Hardt told at a seminar in Warsaw also on Friday that CPI inflation projection in November may be higher than the July one and therefore the central bank needs to start a tightening cycle with a 'delicate' 15bps to curb the inflationary pressures. Hardt added that NBP can hike rates without signaling QE Taper.
- At this stage, there are three policymakers (Hardt, Gatnar and Zubelewicz) voting for an 'imminent' rate hike as they mentioned several times that inflation is now demand-driven in Poland and a gradual tightening could ease the inflationary pressures.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.