Opposition Push to Oust Lower House Speaker & Trigger Snap Election

LOCAL NEWS

• Poland would need to hold snap election "in not too distant future" if the opposition managed to dismiss lower house speaker hailing from the ruling camp, Elzbieta Witek, PiS caucus head Ryszard Terlecki announced.
  • The opposition is still trying to gather support for its planned motion to dismiss Witek
• The net number of FX-loan cases, in which banks are being sued by borrowers, rose by about 20,000 in first half of 2021 to reach 58,000 by end-June (roughlu 14% of outstanding mortgages).
  • ZBP expects more lawsuits to come with banks having lost 59% of the 213 rulings this year
• Finance Ministry Chief economist says Poland is mulling to oblige entrepreneurs to allocate 3% of the entire generated income to healthcare premiums starting from next year and then gradually hike it to 9% in the following years
• Local economist says the NBP could hike policy rates as early as November ahead of expectations for early 2022.
  • Says CPI is expected to generally stay above 5% y/y to end-2021, though a single month with an annual reading below 5% may take place before falling to 3.5% by mid-2022