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Analysts at TD Securities suggest that today there is little doubt that the Poland’s MPC will leave its policy rate at 1.5% where it has been since March 2015.

Key Quotes

“What will be of more interest is the response by the MPC to the Polish government’s fiscal package. The government recently announced that fiscal spending will be boosted by about 40bn zloty this year through a combination of income tax cuts, extra retirement benefits and expanded family benefits.”

“Governor Glapinski, who is one of the more dovish members of the MPC, will probably downplay the significance, saying that in his opinion it just lowers the chances of rate cuts further down the line and that the most likely scenario is still that rates will remain on hold well into next year, if not longer.”