Poland - Factors to Watch Feb 15
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):
ORANGE
Orange Polska to release fourth quarter results after market closes. The unit of France's Orange is seen shifting to a net loss of 141 million zlotys.
T-BILLS
Finance Ministry to offer 1.0-2.0 billion zlotys in 32-week T-Bills at a tender on Monday.
CENTRAL BANK
The central bank closely watches the FX market and if it thinks that the situation is getting out of control and a speculative action is taking place, then it is ready to enter the market, Puls Biznesu daily quoted the bank's management board member as saying.
Katarzyna Zajdel-Kurowska also said that the basic assumption in FX reserves management is maintaining the reserves in safe and liquid assets. The possibility to use them immediately if such a need would arise is more important for the bank than profits, she also said.
SWISS-FRANC LOANS
The president's office told Rzeczpospolita daily that the bill which will enable the banks' clients to convert their Swiss-franc loans into zlotys cannot shake the sector's stability and the project can still undergo some changes.
RATES
Polish newly-appointed rate-setter Eryk Lon said he saw a small scope for interest rate cuts, but stressed that such a move would not have a substantial impact on real economy.
COAL MINING
European Union's biggest coal producer Kompania Weglowa may reduce headcount by 12 percent and cut monthly salaries by 17 percent to 5,560 zlotys gross in the next two years as part of radical cost cutting amid record low coal prices, Gazeta Wyborcza daily said quoting a company document.
BANKS
S&P agency expects that the bank asset tax will curb the lenders' profitability and the banks' ability to accumulate capital, which may in turn limit their credit action in a short term, Parkiet daily quoted an S&P director as saying.
DIGITALIZATION
Poland's economy ministry and digital affairs ministry are working together on an advanced project that would enable citizens to set up most of its red-tape issues via the internet, Puls Biznesu daily said.
****Reuters has not verified these stories and does not vouch for their accuracy.****
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