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Tusk Reportedly Approves Moving Against NBP Governor, Data-Busy Week Ahead

POLAND
  • Bloomberg reported that Prime Minister Donald Tusk has given a green light for initiating procedures that could lead to putting NBP Governor Adam Glapinski on trial. Sources told Bloomberg that the Governor could be accused of meddling into the October election and misleading the government over the 2023 financial results. A motion backed by 115 MPs is needed to set up a parliamentary committee to prove the Governor, which could then recommend placing him on trial before the Tribunal of State, depending on approval by a majority of lawmakers.
  • MPC's Ireneusz Dabrowski told Rzeczpospolita that the odds of a rate cut this year are below 50%. In his view, the MPC could have lowered rates by more than 1pp last year but that window of opportunity has now closed. The official also argued that the NBP should be able to purchase government bonds used to finance public investments in secondary market.
  • A new Pollster/Super Express opinion poll showed that if a presidential election was held today, Warsaw Mayor Rafal Trzaskowski (KO) and Sejm Speaker Szymon Holownia (PL2050) would advance to the run-off, with ex-Prime Minister Mateusz Morawiecki (PiS) in third place.
  • Justice Minister Adam Bodnar told oko.press that the scale of the use of Pegasus spyware by the previous administration was "shocking" and he would try to create legal solutions allowing to unveil more details.
  • The local data calendar is busy this week, with monthly economic activity indicators due to start trickling through from tomorrow morning.
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