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POLAND: Governor Glapinski Expected to Affirm Hawkish Guidance

POLAND
  • Governor Glapinski will hold a press conference at 14:00BST/15:00CET after the National Bank of Poland kept interest rates unchanged for the eight consecutive meeting yesterday, a decision in-line with unanimous sell-side expectations.
  • We expect Governor Adam Glapiński to reaffirm hawkish forward guidance and point to limited room for the resumption of a rate-cutting cycle by the end of this year. He may reiterate that the current pace of wage growth, facilitated by solid minimum-wage increases, is the key source of concern for the MPC.
  • There are no major economic releases scheduled for the remainder of the week. Minutes of last month’s NBP rate decision will be released tomorrow.

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