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Ruling Party Leader Has No Doubt Przylebska Is Top Court's Head, NBP Hawks Take Floor

POLAND
  • Law and Justice party's chairman and de facto leader of the ruling coalition Jaroslaw Kaczynski told PAP newswire that "Julia Przylebska is the Chief Justice of the Constitutional Tribunal and whoever questions it is questioning the existing law." The Tribunal remains locked in a dispute after six judges said that Przylebska's term expired in December and demanded that she initiates procedures leading to the selection of her successor. Their refusal to participate in the Tribunal's proceedings prevents the top court from ruling on legislation reforming the judiciary to comply with the European Commission's "milestones" - necessary conditions for the disbursement of recovery funds for Poland. Kaczynski said that he is "optimistic" about the prospect of the Tribunal reaching a quorum soon to rule in the case.
  • NBP's Joanna Tyrowicz told PAP that nothing in the central bank's communications suggests scope for reducing interest rates as soon as this year. She noted that "if inflation touches the upper end of the tolerance band at the end of 2025 with unchanged rates, then interest rate cuts in 2023 would absolutely prevent this level from being reached." Tyrowicz is the most hawkish member of the MPC and has repeatedly called for raising interest rates.
  • Another NBP hawk Ludwik Kotecki told TVN24 that he expects headline inflation to fall but "we will not see this in core inflation, the one that monetary policy is responsible for." Separately, he told DGP daily that "even a small rate hike would confirm that inflation remains worrying for the MPC," as rate-setters should "continue showing that we are still concerned by disinflation being too slow."
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