Free Trial

Ukraine Files Complaint To WHO, NBP Adviser Plays Down PLN Depreciation

POLAND
  • Ukraine acted on its earlier threats to file a complaint with the World Trade Organisation over unilateral decisions by several East European countries (Poland, Hungary and Slovakia) to extend an embargo on its grain imports. The three countries took action as the EU allowed the bloc-wide ban to expire last Friday. Polish government spokesman Piotr Muller said that Warsaw will not withdraw from its decision despite Ukraine's complaint to the WTO.
  • Leon Podkaminer, an adviser to NBP Governor Adam Glapinski, wrote in an op-ed that critics of the central bank lack "cold objectivism" in assessing the "justified" rate cut delivered by the MPC. In his view, there is "no correlation between interest-rate adjustments and exchange-rate fluctuations".
  • Poland's economic activity data will start trickling through from tomorrow, while Moody's is due to review Poland's sovereign credit rating on Friday. Any changes to the rating or outlook are unlikely, but the accompanying rhetoric will be scrutinised after the adoption of an expansionary 2024 fiscal plan.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.