Free Trial

Political Uncertainty Surges Following The Dismissal of 'Agreement' Leader Jaroslow Gowin

POLAND
  • One of Poland's three ruling parties – Agreement – announced on Tuesday that it was leaving the coalition after its leader Jaroslow Gowin was dismissed by PM Mateusz Morawiecki.
  • Agreement has 10 lawmakers in the 460-seat lower house of parliament and Gowin's resignation could mean the loss of the government's majority. Up until now, the United Right had 232 of the 460 seats in the lower house.
  • According to PAP, deputy PM and State Assets Minister Jacek Sasin told public TV yesterday evening that PiS expects to retain a parliamentary majority.
  • The rise in political instability has been weighing on PLN, which currently trades at multi-month lows against major crosses (USD, GBP).
  • This morning, NBP Eryk Lon confirmed once again that the central bank should wait for November projections before considering rate hike.
  • Next important economic data to watch are Q2 GDP Prelim and June Current Account Balance, coming out on August 13.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.