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POLAND: NBP Begins Monetary Policy Meeting, S&P Global M'fing PMI Eyed

POLAND
PolandCEEMEAEM BulletBulletGlobalEmerging Market NewsRegion
  • The National Bank of Poland (NBP) begins its monetary policy meeting before the announcement of a rate decision tomorrow and a press conference on Thursday. There is unanimous consensus that the Polish central bank will leave interest rates unchanged this week, albeit a growing number of members have indicated that a debate on loosening policy could start in March. Preliminary CPI data for September confirmed that inflation accelerated further, leaving the MPC little room for manoeuvre at this juncture. Our usual preview of the decision is forthcoming.
  • Foreign Minister Radoslaw Sikorski played down the importance of President Andrzej Duda's participation in the celebration of ex-Czech President Milosz Zeman's 80th birthday, which attracted a number of right-wing politicians from Eastern Europe. Sikorski said that he advised the President not to appear at the event amid concerns that pro-Russian ex-German Chancellor Gerhard Schroeder could also attend, which would be damaging for the reputation of the head of state.
  • The Finance Ministry said it would offer PLN40bn-60bn of bonds at 6-7 auctions in 4Q2024. At the next auction on Oct 9, it will offer PLN5bn-10bn of bonds.
  • Poland's S&P Global Manufacturing PMI will be published at the top of the hour.
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  • The National Bank of Poland (NBP) begins its monetary policy meeting before the announcement of a rate decision tomorrow and a press conference on Thursday. There is unanimous consensus that the Polish central bank will leave interest rates unchanged this week, albeit a growing number of members have indicated that a debate on loosening policy could start in March. Preliminary CPI data for September confirmed that inflation accelerated further, leaving the MPC little room for manoeuvre at this juncture. Our usual preview of the decision is forthcoming.
  • Foreign Minister Radoslaw Sikorski played down the importance of President Andrzej Duda's participation in the celebration of ex-Czech President Milosz Zeman's 80th birthday, which attracted a number of right-wing politicians from Eastern Europe. Sikorski said that he advised the President not to appear at the event amid concerns that pro-Russian ex-German Chancellor Gerhard Schroeder could also attend, which would be damaging for the reputation of the head of state.
  • The Finance Ministry said it would offer PLN40bn-60bn of bonds at 6-7 auctions in 4Q2024. At the next auction on Oct 9, it will offer PLN5bn-10bn of bonds.
  • Poland's S&P Global Manufacturing PMI will be published at the top of the hour.