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POLAND: Government May Declare State Of Emergency Amid Widespread Flooding

POLAND
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  • Poland seems poised to declare a state of emergency anytime now as intense floods hit the southwestern regions of the country. The Mayor of Wroclaw, the third most populous city in the country, said that earlier forecasts were too optimistic as he put the city on flooding alert. Environment Minister Paulina Hennig-Kloska said that the government will disburse several dozen million zloty to local authorities to help them fight the floods and another batch of money to help them mitigate the consequences. The government will decide whether to declare a state of emergency (which would be only the third one in Poland's post-WW II history) during a special cabinet meeting starting at the top of the hour.
  • Poland's central bank cried foul as a parliamentary Constitutional Accountability Committee (ODK) decided to press ahead with its probe of Governor Adam Glapinski. It said in a statement Friday afternoon that it notified the prosecutor's office about a potential breach of the law by Speaker Szymon Holownia and ODK chair Zdzislaw Gawlik.
  • NBP's Henryk Wnorowski said that the central bank will likely reduce interest rates in 2Q2025, with more rapid monetary easing by the Fed and ECB would provide "additional arguments" in favour of such a move.
  • The NBP will release core CPI data for August at 13:00BST/14:00CEST. According to Bloomberg consensus, the key metric of underlying inflation may have stayed at +3.8% Y/Y.
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  • Poland seems poised to declare a state of emergency anytime now as intense floods hit the southwestern regions of the country. The Mayor of Wroclaw, the third most populous city in the country, said that earlier forecasts were too optimistic as he put the city on flooding alert. Environment Minister Paulina Hennig-Kloska said that the government will disburse several dozen million zloty to local authorities to help them fight the floods and another batch of money to help them mitigate the consequences. The government will decide whether to declare a state of emergency (which would be only the third one in Poland's post-WW II history) during a special cabinet meeting starting at the top of the hour.
  • Poland's central bank cried foul as a parliamentary Constitutional Accountability Committee (ODK) decided to press ahead with its probe of Governor Adam Glapinski. It said in a statement Friday afternoon that it notified the prosecutor's office about a potential breach of the law by Speaker Szymon Holownia and ODK chair Zdzislaw Gawlik.
  • NBP's Henryk Wnorowski said that the central bank will likely reduce interest rates in 2Q2025, with more rapid monetary easing by the Fed and ECB would provide "additional arguments" in favour of such a move.
  • The NBP will release core CPI data for August at 13:00BST/14:00CEST. According to Bloomberg consensus, the key metric of underlying inflation may have stayed at +3.8% Y/Y.