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Polish Natural Gas Reserves Drop, NBP Meeting Starts

POLAND
  • Business Insider reports that Poland's natural gas reserves shrank to 54% from nearly 70% over the past month, faster than the EU average. State-owned gas company PGNiG said that the process of rebuilding reserves for the next seasons will begin in mid-April as planned.
  • Rzeczpospolita daily reports that around 3mn tonnes of Ukrainian grain may have entered Poland last year and its uncontrolled sales at a discounted price ("half the price of Polish grain") created a supply glut in the local market.
  • The NBP's Monetary Policy Council starts its two-day meeting before the announcement of the rate decision tomorrow. The panel is expected to keep interest rates unchanged this week for the seventh consecutive time.

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