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Preliminary Inflation Data Eyed, NBP Governor Notified About Parliamentary Probe

POLAND
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • Statistics Poland will release preliminary CPI data for the month of May at 09:00BST/10:00CEST. According to Bloomberg consensus, headline inflation may have accelerated to +2.8% Y/Y from +2.4% recorded in April. Local sell-side desks flagged food prices as a key source of uncertainty, amid suspicions that the impact of the re-introduction of the 5% VAT on basic food items might be spread over several months.
  • A parliamentary committee notified NBP Governor Adam Glapinski that a probe into his conduct is officially underway. The official now has 30 days to submit his defence, but can also choose not to respond to the allegations.
  • NBP's Gabriela Maslowska told PAP news agency that the central bank could cut interest rates next year, but it is difficult to forecast the scale of the reduction. She played down "far-fetched" forecasts assuming cuts to the tune of 100bp in 2025.
  • Onet reported that the Public Prosecutor General will prepare petitions to remove the immunity of two more MPs from the Sovereign Poland party (Law and Justice's caucus) amid accusations that they siphoned off funds from the Justice Ministry.
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  • Statistics Poland will release preliminary CPI data for the month of May at 09:00BST/10:00CEST. According to Bloomberg consensus, headline inflation may have accelerated to +2.8% Y/Y from +2.4% recorded in April. Local sell-side desks flagged food prices as a key source of uncertainty, amid suspicions that the impact of the re-introduction of the 5% VAT on basic food items might be spread over several months.
  • A parliamentary committee notified NBP Governor Adam Glapinski that a probe into his conduct is officially underway. The official now has 30 days to submit his defence, but can also choose not to respond to the allegations.
  • NBP's Gabriela Maslowska told PAP news agency that the central bank could cut interest rates next year, but it is difficult to forecast the scale of the reduction. She played down "far-fetched" forecasts assuming cuts to the tune of 100bp in 2025.
  • Onet reported that the Public Prosecutor General will prepare petitions to remove the immunity of two more MPs from the Sovereign Poland party (Law and Justice's caucus) amid accusations that they siphoned off funds from the Justice Ministry.