February 06, 2023 08:17 GMT
Parliament Resumes Work On Key Legislation, NBP To Announce Rate Decision Wednesday
- A court bill seen as one of the milestones for unlocking EU recovery funds for Poland returned to the lower house (Sejm) with the Senate's amendments and will be debated in committee this afternoon. Later this week, the Sejm may also debate a wind farm bill, another key EU milestone, as well as a proposal to launch a probe into Russia's influence on Poland's energy policies (albeit the latter idea is unlikely to be discussed in the current session, according to a Rzeczpospolita report). All three initiatives are of critical importance for the ruling Law and Justice Party in the election year.
- The NBP are expected to keep interest rates unchanged on Wednesday but participants will be on the lookout for any tweaks to the central bank's stance, particularly surrounding the timing of the next easing cycle. Prime Minister Mateusz Morawiecki said last week that cuts are "possible and even likely" by the year-end, with several sell-side desks taking note of his comments in their previews of the NBP decision.
- President Andrzej Duda's chief foreign policy aide Marcin Przydacz said over the weekend that the date for U.S. President Joe Biden's visit has been scheduled and will be "sooner rather than later." Earlier reports had suggested that Biden could come to Europe at some point around the anniversary of Russia's full-scale invasion of Ukraine and might meet with Ukrainian President Zelensky in one of the countries in the region.