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Polish Data Disappoint Early This Week, NBP Minutes Due Today

POLAND
  • The Cabinet approved a pre-election boost to extra pension payouts, which will cost around PLN9.1bn. The measure will increase a single payment to PLN2,650 from PLN1,588.44. Around 9mn pensioners will receive the higher payouts in September.
  • According to RMF FM radio, the ruling Law and Justice party will unveil the lists of candidates for the upcoming parliamentary elections during the first weekend of September. The lists must be submitted to the National Electoral Commission by September 6.
  • Polish financial watchdog KNF said that the net interest margin (NIM) of Polish banks rose to 3.52% in June, reaching the highest levels since at least 2019.
  • Local data released at the start to the week were disappointing, supporting dovish NBP bets. The NBP will publish the minutes of its most recent monetary policy meeting as well as M3 money supply today at 13:00BST/14:00CEST.

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