Polish Economy in Focus: Glapinski’s Commentary on Monetary Policy & Upcoming Data Releases

The upcoming week promises a flurry of macroeconomic data releases, with the highly anticipated US jobs report taking center stage. This report, which Fed Chair Jerome Powell has stated will influence monetary policy decisions, will be closely watched by investors. Meanwhile, Poland’s economic landscape will be assessed by National Bank of Poland (NBP) Governor Adam Glapinski during a press conference, following the Monetary Policy Council (RPP) decision scheduled for mid-week. This week will also see the release of numerous other economic indicators, including China’s Caixin PMI for services, industrial PMI data for France, Germany, the Eurozone and the UK, Switzerland’s retail sales figures, Turkish and Italian GDP, and Hungarian foreign trade balance. The US market will be closed on Monday for Labor Day. In Poland, the RPP will hold a two-day meeting, culminating in a decision on interest rates. While a rate cut is not expected, the post-meeting statement will be scrutinized for any hints on the future trajectory of monetary policy. The prospect of potential rate cuts in 2025 has gained momentum, with Governor Glapinski himself echoing this sentiment.