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POLAND: Poland Continues Efforts To Contain Fallout From Widespread Flooding

POLAND
PolandCEEMEAEM BulletBulletGlobalEmerging Market NewsRegion
  • Poland continues to battle widespread flooding affecting the southwestern regions of the country. Prime Minister Donald Tusk extended the scope of the emergency declaration shortly after its original announcement, with key ministers holding a meeting to take stock of the situation this morning. The flood-wave peak is expected to reach Wroclaw, Poland's third largest city, on Wednesday, but Tusk pointed to the mixed forecasts offered by hydrologists. Rzeczpospolita reported that the floods have already caused damage to the roads to the tune of PLN4.2bn.
  • Onet reported that the atmosphere during the talks between Foreign Minister Radoslaw Sikorski and Ukrainian President Volodymyr Zelensky a few days ago was very tense, with Zelensky making a series of far-reaching demands and expecting their unconditional acceptance. Onet reporter and ex-diplomat Witold Jurasz commented that the Ukrainian side believes that the Russian threat to Poland is so high that Warsaw's help for Ukraine is entirely self-interested, adding that other participants of the meeting tried to persuade him not to write about the matter.
  • Data from the NBP showed that core inflation decelerated to +3.7% Y/Y in August, even as the expectations were for a repeat of the July reading of +3.8%.
  • The Finance Ministry will offer OK0127, PS0729, WZ0330, DS1030, DS1033, DS1034 and IZ0836 at a switch auction, buying back PS1024, PS0425, WZ0525 and DS0725 bonds.
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  • Poland continues to battle widespread flooding affecting the southwestern regions of the country. Prime Minister Donald Tusk extended the scope of the emergency declaration shortly after its original announcement, with key ministers holding a meeting to take stock of the situation this morning. The flood-wave peak is expected to reach Wroclaw, Poland's third largest city, on Wednesday, but Tusk pointed to the mixed forecasts offered by hydrologists. Rzeczpospolita reported that the floods have already caused damage to the roads to the tune of PLN4.2bn.
  • Onet reported that the atmosphere during the talks between Foreign Minister Radoslaw Sikorski and Ukrainian President Volodymyr Zelensky a few days ago was very tense, with Zelensky making a series of far-reaching demands and expecting their unconditional acceptance. Onet reporter and ex-diplomat Witold Jurasz commented that the Ukrainian side believes that the Russian threat to Poland is so high that Warsaw's help for Ukraine is entirely self-interested, adding that other participants of the meeting tried to persuade him not to write about the matter.
  • Data from the NBP showed that core inflation decelerated to +3.7% Y/Y in August, even as the expectations were for a repeat of the July reading of +3.8%.
  • The Finance Ministry will offer OK0127, PS0729, WZ0330, DS1030, DS1033, DS1034 and IZ0836 at a switch auction, buying back PS1024, PS0425, WZ0525 and DS0725 bonds.