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President Duda to Meet French President Macron

POLAND
  • Polish President Andrzej Duda is due to meet French President Emmanuel Macron on Wednesday to discuss bilateral economic issues, energy, security as well as defending the EU's external border (BBG).
  • We have seen that Poland has been under EU's radar in recent months, first on the on-going backlash over primacy law and second on the ECJ financial punishment of 500K EUR for each day Poland continues to extract lignite at the Turow mine close to the border with the Czech Republic and Germany.
  • The EU have decided to delay the 36bn EUR in pandemic aid, which could lead to a significant downward revision in growth expectations, pausing a threat to Polish risky assets.
  • In addition, the rise in Covid uncertainty could also lead to a sharp in business and economic sentiment indicators, pausing a threat to the policy outlook and therefore could weigh on PLN.
  • Next important data to watch will be October CPI, coming out on October 29.
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