The ongoing euro-zone debt crisis and the European Union’s struggle to increase the firepower of the International Monetary Fund will dominate Friday. Investors focused on Poland will be able to see whether the zloty, weakened by the euro crisis, has boosted wage pressure in a similar way it has stoked consumer price inflation. Economists expect Poland’s November average wages to have risen 5.3% on the year. The country’s consumer price inflation rose to 4.8% on the year in November, much above expectations, with the zloty some 13% weaker to the euro at the end of November versus August, prompting hawkish comments by central bankers. Average wages are closely watched by Polish rate setters for any signals of elevated inflation exerting pressure on wage growth, which could prompt another interest rate increase. OTHER NEWS POLAND: The Polish Finance Ministry Thursday announced changes in its government debt issuance schedule, adjusting bond auction schedules to Monetary Policy Council meetings, release dates for the consumer price index, redemptions of government bonds and holidays. CZECH REPUBLIC: Neither Hungary nor the Czech Republic will support an intergovernmental accord proposed by European Union leaders last week until the details of the pact are finalized, the two countries’ prime ministers said in Budapest Thursday. HUNGARY: Hungary’s government and the country’s banking association signed an agreement Thursday to ease burdens on the banking sector and cut the volume of foreign-currency debt. ROMANIA: Romanian state-owned energy producer Nuclearelectrica Thursday extended until Mar. 15, 2012 the deadline by which investors can file binding offers for the construction of two additional reactors at its nuclear power plant in Cernavoda, news agency Mediafax reported.

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