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POLAND: NBP's Kochalski Deems March Cut Realistic, Flash Nov CPI Eyed Today

POLAND
PolandCEEMEAEM BulletBulletEmerging Market News
  • MPC's Cezary Kochalski told Gazeta Pomorska that there is a realistic prospect of a rate cut in March 2025. The official said that the government's decision to extend the electricity price freeze increased the odds of such an outcome, but loose fiscal policy is a potential obstacle to easing monetary policy already at this point. In their summary of Kochalski's comments, Pekao described him as "one of the MPC members close to [Governor] A. Glapinski."
  • Finance Minister Andrzej Domanski said that high interests rates incentivise Polish consumers to limit purchases and rebuild their savings. Against this backdrop, "it is important for other engines of growth, namely investments, to come on." Domanski was speaking after the release of final Q3 GDP data.
  • The Finance Ministry will release its monthly bond issuance schedule for December at 14:00GMT/15:00CET. The Finance Ministry did not have problems with finding buyers for PLN7bn of debt at the latest offering earlier this week, but demand for PLN9bn did not exceed the size of the sale by a wide margin, contrary to the previous auction.
  • Statistics Poland will publish preliminary November CPI readings at 09:00GMT/10:00CET. Headline inflation may have eased this month due to a high comparative base in fuels.
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  • MPC's Cezary Kochalski told Gazeta Pomorska that there is a realistic prospect of a rate cut in March 2025. The official said that the government's decision to extend the electricity price freeze increased the odds of such an outcome, but loose fiscal policy is a potential obstacle to easing monetary policy already at this point. In their summary of Kochalski's comments, Pekao described him as "one of the MPC members close to [Governor] A. Glapinski."
  • Finance Minister Andrzej Domanski said that high interests rates incentivise Polish consumers to limit purchases and rebuild their savings. Against this backdrop, "it is important for other engines of growth, namely investments, to come on." Domanski was speaking after the release of final Q3 GDP data.
  • The Finance Ministry will release its monthly bond issuance schedule for December at 14:00GMT/15:00CET. The Finance Ministry did not have problems with finding buyers for PLN7bn of debt at the latest offering earlier this week, but demand for PLN9bn did not exceed the size of the sale by a wide margin, contrary to the previous auction.
  • Statistics Poland will publish preliminary November CPI readings at 09:00GMT/10:00CET. Headline inflation may have eased this month due to a high comparative base in fuels.