Following are news stories, press reports and events to watch that may affect Poland’s financial markets on Monday. ALL TIMES GMT (Poland: GMT + 1 hour):
Deflation in Poland will probably last until October or more, but would not influence consumer spending as their income steadily rises, Polish Monetary Policy Council member Andrzej Rzonca said, reiterating that rates should be hiked rather than lowered.
Miners at the European Union’s biggest coking coal producer JSW agreed to suspend the strike following the chief executive’s announcement that he will resign, JSW’s spokeswoman said on Saturday.
Swiss financial titans UBS and Credit Suisse are expanding their operations in provincial Poland in a cost-saving drive made more urgent by the surge in the value of the Swiss franc.
Poland’s current President Bronislaw Komorowski might not be able to secure an outright win in the upcoming presidential elections, with support for him down to 49 percent, Rzeczpospolita daily said on Saturday citing an IBRiS poll.
According to the poll, main opposition candidate Andrzej Duda has a 26-percent backing.
Poland’s Bank Guarantee Fund has granted Bank Pekao SA 102 million zlotys ($27.90 million) for credit union SKOK Mikolaja Kopernika restructuring, that was taken over by the bank, Rzeczpospolita daily said.
Chinese advising firm Longmarch Partner Limited is interested in cooperating with Polish debt collecting firm Kredyt Inkaso, Puls Biznesu daily reported. The Chinese partner may invest $50 million in debt portfolio purchase.
Polish copper miner is not currently planning to list itself abroad or float its foreing arm KGHM International, its chief analyst Maciej Konski told daily Parkiet. He added that KGHM is positive about copper prices.
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