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Tusk Departs For Weimar Triangle Summit, NBP's Kochalski Says Rate-Cut Debate Possible In '25

POLAND
  • Gazeta Wyborcza reported that Poland's role at today's Weimar Triangle summit will be that of a mediator between France and Germany amid their tensions on Ukraine policies. Gazeta, in collaboration with French daily Ouest-France, ran an interview with Foreign Minister Radoslaw Sikorski, who appeared to sympathise with the French stance. Sikorski said that he "fully supports" the change in President Macron's approach, stressing the need to control the terms of escalation in Ukraine. He also expressed hope that today's Weimer Triangle summit will be an opportunity to persuade German Chancellor Olaf Scholz to "take more decisive action."
  • NBP's Cezary Kochalski told ISB news agency that interest rates will most likely stay unchanged for the remainder of this year, while a debate on cuts may resume in March 2025, "if the unlikely scenario of a discussion of interest rate cuts at the end of this year doesn't materialise." If such a debate was to resume, the NBP would need to be sure "that we have dealt with relatively high core inflation on a sustainable basis, and CPI would have to be on target."
  • Statistics Poland will release February CPI data at 09:00GMT/10:00CET, alongside a revision to the January reading and the details of the annual basket re-weighting. Poland's current account balance will cross the wires at 13:00GMT/14:00CET.
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