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PM Tusk To Discuss Committee To Probe Russian Influence, NBP's Kotecki Warns Of Wage Pressures

POLAND
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  • Prime Minister Donald Tusk will announce the creation of a special committee to probe Russian influence in Poland after the matter is discussed at today's Cabinet meeting. This comes as both largest parties have traded accusations of pro-Russian bias and/or connections. The establishment of the committee would be a revival of an idea first proposed by the previous administration run by the Law and Justice (PiS) party. At the time, many observers interpreted the establishment of the committee in the lead-up to a parliamentary election as a means of political pressure on Tusk, intended to hinder his return to domestic politics. OKO.press report that the old, now-defunct parliamentary committee will be disbanded and replaced with a new organ at the Ministry of Justice, which may start working immediately.
  • The government's policy czar Maciej Berek told money.pl that raising the annual tax-free allowance has been delayed due to outsize defence spending. When asked about legislation adopted last year, which bolsters the President's role in conducting foreign policy, he stressed that formulating foreign policy is an exclusive competence of the government.
  • MPC's Ludwik Kotecki told Business Insider Polska that from the perspective of the NBP's inflation target wages are growing too fast, while enterprises still have the capacity to yield to wage demands. He suggested that inflation will increase to around +5% Y/Y at the end of the year and the job of bringing it to low and stable levels is not yet done. Kotecki said that interest rates will remain unchanged through the year-end in an "optimistic" but "perhaps also most likely" scenario, although a small rate cut cannot be ruled out if wage pressures subside.
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  • Prime Minister Donald Tusk will announce the creation of a special committee to probe Russian influence in Poland after the matter is discussed at today's Cabinet meeting. This comes as both largest parties have traded accusations of pro-Russian bias and/or connections. The establishment of the committee would be a revival of an idea first proposed by the previous administration run by the Law and Justice (PiS) party. At the time, many observers interpreted the establishment of the committee in the lead-up to a parliamentary election as a means of political pressure on Tusk, intended to hinder his return to domestic politics. OKO.press report that the old, now-defunct parliamentary committee will be disbanded and replaced with a new organ at the Ministry of Justice, which may start working immediately.
  • The government's policy czar Maciej Berek told money.pl that raising the annual tax-free allowance has been delayed due to outsize defence spending. When asked about legislation adopted last year, which bolsters the President's role in conducting foreign policy, he stressed that formulating foreign policy is an exclusive competence of the government.
  • MPC's Ludwik Kotecki told Business Insider Polska that from the perspective of the NBP's inflation target wages are growing too fast, while enterprises still have the capacity to yield to wage demands. He suggested that inflation will increase to around +5% Y/Y at the end of the year and the job of bringing it to low and stable levels is not yet done. Kotecki said that interest rates will remain unchanged through the year-end in an "optimistic" but "perhaps also most likely" scenario, although a small rate cut cannot be ruled out if wage pressures subside.