July 11, 2018 / 6:10 AM / 4 months ago

Poland - Factors to Watch July 11

WARSAW, July 11 - Following are news stories, press reports and events that may affect Poland’s financial markets on Wednesday. ALL TIMES GMT (Poland: GMT + 2 hours):

INTEREST RATES

Polish central bank is to decide on the interest rates at its monthly sitting. Analysts expect that rates will stay at their record-low level of 1.5 percent. The bank will also publish its newest economic forecast.

POLAND-UKRAINE

Poland marks the anniversary of 1943 massacres of thousands of Poles in Wolyn, now western Ukraine. Poland accuses Ukrainian nationalists of the massacre, which casts a long shadow on relations between the two neighbours.

RULE OF LAW

European affairs ministers of the European Union’s 28 member states will discuss again concerns over upholding the rule of law in Poland at a meeting after the summer, daily Dziennik Gazeta Prawna reports.

Malgorzata Gersdorf, who defied new laws forcing her into early retirement from the job of the head of Poland’s Supreme Court, should be back at work after holidays on July 20, the judge temporarily replacing her, Jozef Iwulski, tells Gazeta Wyborcza daily.

Iwulski says the new laws passed by the government to lower retirement age for judges that force Gersdorf out amount to bypassing the Polish constitution, which says her term should run for six years. It should hence end in 2020, Iwulski said.

CENTRAL BANK AND BANKING REGULATOR

It is unlikely that the government would heed calls by the head of the Polish central bank, Adam Glapinski, to merge his institution with Poland’s banking regulator, the Financial Supervision Authority (KNF), daily Dziennik Gazeta Prawna writes.

LOT

Poland’s leading labour union OPZZ called on Prime Minister Mateusz Morawiecki to sack the head of the country’s national flag carrier LOT, daily Gazeta Wyborcza writes.

PGG

The Polish energy ministry is not keen to split the state-run coal miner PGG to put its mines directly under power producing companies that already own PGG shares, daily Parkiet writes.

SHOPPING PATTERNS

The largest hypermarket chains are quickly losing market share in Poland to smaller discount retailers like Biedronka, a unit of Portuguese firm Jeronimo Martins, writes the Rzeczpospolita daily.

****Reuters has not verified stories reported by Polish media and does not vouch for their accuracy.****

For other related news, double click on: Polish equities E.Europe equities Polish money Polish debt Eastern Europe All emerging markets Hot stocks Stock markets Market debt news Forex news For real-time index quotes, double click on: Warsaw WIG20 Budapest BUX Prague PX (Reporting by Warsaw Bureau)

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