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POLAND: Zelensky Visits Poland Ahead Of NATO Summit

POLAND
  • MPC's Henryk Wnorowski told PAP news agency that he sees conditions for considering a rate cut in 2H2025. Separately, Ludwik Kotecki, previously seen as one of the leading hawks on the MPC, told BIZNES 24 that "discussion about a slight adjustment could come in Q1 or Q2 next year, especially if the November and March projections confirm a sustained decline in inflation to the target in 2026." Both officials were less hawkish than Governor Adam Glapinski, who last week guided the market toward a rate cut only in 2026.
  • Ukrainian President Volodymyr Zelensky is expected to visit Warsaw today, prior to the departure of the Polish delegation to the NATO summit. He is expected to sign a long-term security cooperation agreement with Prime Minister Donald Tusk before heading to the Presidential Palace for a meeting with President Andrzej Duda. Fakt reported that Zelensky may then leave from Warsaw to the NATO summit in Washington DC on Tuesday.
  • The President called a meeting of the National Security Council (NSC) for this morning to discuss the situation ahead of his departure for the NATO summit. He will be joined on his trip by Defence Minister Wladyslaw Kosiniak-Kamysz and Foreign Minister Radoslaw Sikorski.
  • Climate and Environment Minister Paulina Hennig-Kloska told Money.pl that she proposed an extension to current energy price shields (reduced at the beginning of July) for the whole 2025. This would render the NBP's latest inflation projection outdated, with the central bank assuming the full expiry of support measures from January.

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