While the current gas crisis in the EU sees record-high wholesale gas prices, hurting consumers and causing the latest round of a supply disputes with Russia, the race to net zero by 2050 could have deeper long-term consequences for EU gas demand.
Inflation picks up 0.5pp versus the preceding month to a 20-year high.
Annual CEE Strategic Transformation Index puts Slovenia top in CEE (after Austria), followed by Czechia and Poland.
EU’s pro-nuclear member states want nuclear energy to be included in the bloc's green taxonomy as a way to ameliorate climate change.
Protests follow ruling by the Constitutional Tribunal that the Treaty of the European Union contravenes the Polish Constitution.
The ruling is the most serious swipe by Poland at the EU’s legal order that Warsaw had subscribed to when joining the bloc in 2004 after years of negotiations.
Judge wins case against his transfer at CJEU, which says government's reforms damage judicial independence.
Polish rate setters belatedly follow lead of Czech and Hungarian neighbours in reacting to rising inflation in Central Europe.
Polish inflation is set to keep rising in the coming months, nearing 7% by December 2021. We see average CPI in 2021 at 4.75% y/y and at 4.5% y/y in 2022. The NBP may quite likely under-deliver with tightening vs elevated market expectations.
Government weaponises refugees as threat to Poles, while opposition accuses it of violating international law by not allowing them to file for protection.
It is still not clear when coal will stop being the staple fuel of the Polish economy and whether future growth will be powered by renewables only or also by nuclear energy.
The government’s flagship welfare programme, the universal payout of €109 monthly per every child under 18, has not resulted in any sustained increase in the number of births.
In the push for reducing carbon, significant investment will be necessary, and in turn, funding will be required. This will provide growth for the credit market, and in particular for anything associated with ESG.
The lowest motorisation rates were found in Romania (357 cars per thousand people), Latvia (381 cars) and Hungary (390 cars).
Poland reportedly plans to suspend cooperation with Czechia in the Visegrad Group until the mine’s case has been resolved in an amicable way.
In times of crisis there is a fight to quality by bond traders who are keen to reduce their risks. However, in this crisis the countries of Central Europe have done surprisingly well thanks to ECB support.
But the regulator also asked the Constitutional Tribunal to check if the current licensing rules are in line with Poland’s constitutional order.
Defining a green investment is crucial to boosting the expansion of renewable energy and preventing the mis-selling of investments by so-called greenwashing, whereby the environmental impact of a product is misrepresented.
Seasonally adjusted, retail sales inched up 0.4% m/m in August.
Poland fined €500,000 per day for failing to abide by order to halt the Turow lignite mine’s operations immediately.