Poland - Factors to Watch on Oct 2

Here are news stories, press reports and events to watch, which may affect Poland's financial markets on Tuesday. ALL TIMES GMT (Poland: GMT + 2 hours):


The central bank's Monetary Policy Council (MPC) starts its two-day policy sitting on Tuesday. Analysts polled by Reuters expect the bank's policymakers to cut interest rates on Wednesday by 25 basis points to 4.5 percent.


According to Daily Gazeta Wyborcza, Prime Minister Donald Tusk will announce in his policy speech mid-October that banks will need to create a special "rescue" cash reserve that would be available if the sector got into financial troubles. The paper does not offer any more details.


The banking watchdog plans to soften credit rules to make it easier and cheaper for a bank to offer loans, the head of the banking supervisory body told daily Dziennik Gazeta Prawna in an interview, saying that the current strict rules unnecessarily limit access to credit.


Jan Kulczyk, Poland's richest man, bought 58 percent in local green energy firm Polish Energy Partners (PEP) , the Warsaw bourse said in a statement on Monday, less than the 80 percent he had hoped to buy to allow him to delist the company.


Poland's top refiner closed the third quarter with joint model refining margin and Ural/Brent crude price differential at $9.1 per barrel, topping its expectations and the previous quarter result, PKN said on Monday.

Daily Dziennik Gazeta Prawna wrote that PKN will finalise in December a deal with a contractor to build a 500-megawatt gas-fired power plant in Wloclawek. The contract is worth about 1.5 billion zlotys.


Dutch bank ING is closing its equity markets desk covering Central and Eastern Europe and Russia, with the loss of around 100 jobs, it said on Monday.


Joint supervision of the euro zone's banks, a key part of the bloc's crisis fighting plan, will not be in place by the start of next year as originally planned, a German official said on Monday.

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