• The NBP's management board will hold a press conference at 14:30GMT/15:30CET. The subject matter of the presser has not been revealed but it comes as the central bank is preparing contingency plans for a scenario whereby the incoming administration would put Governor Glapinski on trial. Leader of the pro-EU coalition Donald Tusk said that his government "will not do anything that would undermine the stability or the reputation of the Polish state in Europe and abroad," adding that it is a common aim to "care about the reputation and stability of Polish institutions. The central bank - NBP - is among the institutions which require special care".
  • Meanwhile, the Monetary Policy Committee will hold its final meeting this week, with the rate decision coming up Wednesday. Virtually all analysts expect the NBP to keep its policy rate unchanged at 5.75%. Official communications pointed to a hawkish evolution of the central bank's reaction function in the wake of the recent general elections, with more members flagging preference for a pause. Governor Glapinski will explain the decision during his traditional press conference on Thursday.
  • On Tuesday, the Constitutional Tribunal may announce its postponed verdict on the constitutionality of EU treaties which provide legal basis for imposing fines on member states. The ruling may complicate the incoming administration's efforts to repair relations with the EU.
  • President Andrzej Duda's aide said that if Donald Tusk wins the backing of majority of lawmakers, he will be sworn in "immediately". The official played down concerns that the President could try to delay the swearing-in ceremony. Likewise, the President assured that he will not "prolong or delay" the formation of the new government, which suggests that it could take office early next week.

POLAND: NBP Management Board Holds Presser, MPC's Rate Decision Due Later This Week

Last updated at:Dec-04 07:44By: Krzysztof Kruk
  • The NBP's management board will hold a press conference at 14:30GMT/15:30CET. The subject matter of the presser has not been revealed but it comes as the central bank is preparing contingency plans for a scenario whereby the incoming administration would put Governor Glapinski on trial. Leader of the pro-EU coalition Donald Tusk said that his government "will not do anything that would undermine the stability or the reputation of the Polish state in Europe and abroad," adding that it is a common aim to "care about the reputation and stability of Polish institutions. The central bank - NBP - is among the institutions which require special care".
  • Meanwhile, the Monetary Policy Committee will hold its final meeting this week, with the rate decision coming up Wednesday. Virtually all analysts expect the NBP to keep its policy rate unchanged at 5.75%. Official communications pointed to a hawkish evolution of the central bank's reaction function in the wake of the recent general elections, with more members flagging preference for a pause. Governor Glapinski will explain the decision during his traditional press conference on Thursday.
  • On Tuesday, the Constitutional Tribunal may announce its postponed verdict on the constitutionality of EU treaties which provide legal basis for imposing fines on member states. The ruling may complicate the incoming administration's efforts to repair relations with the EU.
  • President Andrzej Duda's aide said that if Donald Tusk wins the backing of majority of lawmakers, he will be sworn in "immediately". The official played down concerns that the President could try to delay the swearing-in ceremony. Likewise, the President assured that he will not "prolong or delay" the formation of the new government, which suggests that it could take office early next week.

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