Poland

Poland’s central bank delivers a surprisingly low interest hike amid recession fears

Wojciech Kosc in Warsaw July 8, 2022

The National Bank of Poland increased its reference rate by 50bp to 6.5%, below market expectations for a hike of 75bp at least.

Emerging markets see $4bn of outflows in June as global recession fears grow

Ben Aris in Berlin July 7, 2022

Pockets of weakness persist in emerging markets where real interest rates are deeply negative – and risks for those countries are rapidly mounting.

Tougher times ahead for Emerging Europe

Clare Nuttall in Glasgow July 7, 2022

With no end to the Ukraine war in sight, spiralling inflation is set to drag down growth across Emerging Europe in the second half of 2022 and into 2023, wiiw’s latest forecasts say.

bneGREEN: Has green energy had its day?

Richard Lockhart in Edinburgh July 6, 2022

Global efforts to combat climate change are being endangered by the global COVID-19 pandemic, the war in Ukraine and the current energy crisis.

bneGREEN: Cracks appear in German opposition to atomic energy

Richard Lockhart in Edinburgh July 6, 2022

Germany’s opposition to expanding nuclear power could be changing slowly, as the current gas crisis leads to more voices calling for an end to the closure of nuclear power plants.

Poland buys 32 helicopters from Italian producer Leonardo

bne IntelliNews July 4, 2022

The €1.76bn deal is part of a raft of purchases from Western arms companies by countries on Nato's Eastern Flank.

Polish CPI surges to 15.6% y/y in June

bne IntelliNews July 4, 2022

Market consensus remains for a 75bp rise next week that will put the interest rate at 6.75%.

US and Chinese slowdown will tip the world into recession, says IIF

bne IntelliNews July 2, 2022

The worsening economic data coming out of the US and yet another coronavirus lockdown in China will tip the world into a global recession, the Institute of International Finance (IIF) said in a note on July 1.

bneGREEN: EBRD passes €1bn green bond milestone

By Richard Lockhart in Edinburgh July 2, 2022

The EBRD has now invested €1bn in green bonds since 2017, with €524mn allocated in 2021 alone, as it supports emerging green capital markets across Central and Eastern Europe.

bneGREEN: Poorer cities the most exposed to climate change

Richard Lockhart in Edinburgh July 1, 2022

An increase in extreme weather events and natural disasters like flooding, heatwaves and landslides will hit urban areas the hardest, making climate change adaptation a matter of paramount importance, the UN has warned.

Poland’s tweaks to judiciary reforms do not yet meet EU criteria, says Jourova

Wojciech Kosc in Warsaw July 1, 2022

Poland has not yet met the milestones set by the Commission in order to receive €36bn in grants and loans from the EU’s pandemic recovery fund, says Commission vice-president.

Stagflation fears continue to rise

bne IntelliNews July 1, 2022

Global inflation refuses to be tamed and with price increases in the US hitting 8.6% in May, its highest level in 40 years, the Fed is expected to continue tightening monetary policy by hiking rates that will suck liquidity out of emerging markets.

CEE Economic Sentiment Indicators fall on polycrisis woes

bne IntelliNews June 30, 2022

The European Commission’s Economic Sentiment Indicators (ESI) for Central and Eastern Europe (CEE) fell in May as the polycrisis hitting the world took its toll on economies across the entire region.

Nato agrees 'fundamental shift' to counter Russia

Robert Anderson in Prague June 29, 2022

Security alliance’s leaders agree a big increase in troop deployments on its Eastern Flank, more help for Ukraine in its defence against Russian aggression, and a new Strategic Concept.

Poland’s unemployment rate falls to lowest point since 1990

Wojciech Kosc in Warsaw June 26, 2022

Poland’s unemployment rate slid 1pp y/y to 5.1% in May.

bneGREEN: Reducing investment in fossil fuels can fund Europe’s energy transition

Richard Lockhart in Edinburgh June 24, 2022

Europe’s electricity system could become greener, more secure and more resilient while not requiring any funding if the right investments are made to replace increasingly expensive fossil fuels.

bneGREEN: Coal investment remains major threat to green dream

Richard Lockhart in Edinburgh June 24, 2022

An 8% rise in global energy investment in 2022 to $2.4 trillion, driven by a 12% rise in clean energy spending, is still far from enough to tackle the energy crisis and to put the world on the path to a greener and more secure energy future.

Polish retail sales growth eases to 8.2% y/y in May

Wojciech Kosc in Warsaw June 23, 2022

Consumption trends are normalising after disruption caused by the inflow of Ukrainian refugees and the low base effect from last year.

CEE inflation spreading across whole region, set to last for years

Ben Aris in Berlin June 22, 2022

Inflation is being driven up by the food crisis and disrupted supply chains, first during the pandemic and now due to the war in Ukraine, leading to fears of stagflation for the whole world.

Polish PPI inflation accelerates to 24.7% y/y in May

Wojciech Kosc in Warsaw June 22, 2022

The index grew sharply due to expensive energy commodities and industrial metals, their prices driven up by the war in Ukraine.

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