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Ruling Coalition Expected To Probe Glapinski, MPC's Kotecki Refuses To Rule Out Rate Hikes

POLAND
  • DGP reported that the ruling coalition is planning to establish a special parliamentary committee next month to probe NBP Governor Adam Glapinski. The measure is a preliminary step before putting him on trial before the Tribunal of State. However, according to the report, this might be the final step of the process, with the coalition hoping that Glapinski will step down after a series of hearings. There are also hopes that he might be pressured to resign by the Law and Justice (PiS) party, whose reputation would suffer as a result of the hearings. In addition, the main opposition party might want to exert some influence on the nomination of a new Governor by exploiting its relations with the President. A source from within the NBP told the newspaper that the accusations directed at Glapinski are "absurd" and "chasing the rabbit" is the only thing the coalition may do.
  • MPC's Ludwik Kotecki told Newsweek that the MPC should "keep distance" from the Governor's problems and it seems that financial markets are unfazed about the issue. He added that "we should forget about a rate cut until core inflation permanently approaches the +2.5% Y/Y target." He refused to rule out rate hikes, "also because of the two pre-election cuts," and reaffirmed familiar criticisms of the Governor.
  • Justice Minister Adam Bodnar told TVN24 that he "has access" to the list of people targeted with Pegasus spyware by the secret services overseen by the previous administration and it is "shockingly long."
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