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Senate To Appoint New NBP MPC Members

POLAND
  • At 10 (London time), Senate starts session with agenda including appointment of new MPC members and discussion over state budget for 2022 (BBG).
  • We have heard recently MPC candidate Kotecki mentioning that the NBP is likely to raise rates by 50bps at its February meeting and continue its tightening cycle in the coming months.
  • Last week, Governor Glapinski said during the press conference that the NBP can safely rise interest rates up to 4% if growth remains strong with the central bank maintaining the current pace with 50bps monthly hikes.
  • Financial regular reported that 5,700 FX-Loan settlements were signed by Polish banks with clients last year (out of 16,000 requests so far).
  • Health Minister Adam Niedzielski mentioned on TVN24 earlier this morning that the death toll from the pandemic has now exceeded 100K.

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