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Parliament Debates Budget 2024, MPC's Kotecki Calls QT "Incomprehensible"

POLAND
  • The postponed Sejm meeting resumes today and the lower house is expected to debate the 2024 budget in second reading at 12:00GMT/13:00CET. Later this evening, lawmakers will discuss a resolution to establish an investigative committee to probe the alleged use of Pegasus spyware by the previous government against then-opposition officials. Onet reported that Law and Justice (PiS) lawmakers are planning to obstruct the debate amid rising political tensions over the arrest of their convicted colleagues Mariusz Kaminski and Maciej Wasik.
  • MPC's Ludwik Kotecki said that quantitative tightening in Poland would be "completely incomprehensible", pushing back against the idea floated by Ireneusz Dabrowski last week. Kotecki told Business Insider that the central bank should hold bonds until maturity and any other decision would be seen as politically motivated.
  • A fresh Rzeczpospolita/Ibris opinion poll showed that the ruling coalition could get 267 seats in parliament should a snap election be held today. This would put it eight votes short of the supermajority needed to overrule presidential veto.
  • The NBP will publish December core CPI data at 13:00GMT/14:00CET, with Bloomberg consensus looking for a moderation to +6.9% Y/Y from +7.3% in November.

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