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Opposition Holds Rally In Warsaw, Key Court Verdicts Awaited

POLAND
  • NBP Governor Adam Glapinski signalled that the central bank will assess the economy on a meeting-by-meeting basis and is not in any rate cycle at the moment. The Governor noted that inflation may approach the target in the coming months, but a strong rebound is expected to follow. In the Governor's view, much will depend on fiscal and regulatory decisions of the new government.
  • The Constitutional Tribunal is expected to rule on the procedure of probing NBP Governor. A group of opposition MPs is arguing that the automatic suspension of the central bank chief as soon as they are put on trial violates constitutional norms. Separately, the Supreme Court will rule on the validity of the October 15 parliamentary elections. Both verdicts will be announced at 10:00GMT/11:00CET.
  • The main opposition Law and Justice (PiS) party holds a protest in the capital against the actions of the new government, including an overhaul of public media and the arrest of two lawmakers sentenced by the court for abuse of power. Both remain in detention after being apprehended in the Presidential Palace on Tuesday.
  • DGP reports that the government thinks that cohabitation with President Andrzej Duda may turn more hostile after the arrest of the two officials. Separately, Onet suggests that PiS leader Jaroslaw Kaczynski instructed candidates from his party not to fill the two vacated parliamentary seats but it is unclear if they will comply.
  • MPC's Ludwik Kotecki will participate in a debate hosted by the Polish Economic Society at 16:00GMT/17:00CET.
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