let's get back to hans redeker. protests. it seems the president may now be listening to some of the protesters. story, ofcurrency what next for europe story? hans: absolutely the context is much bigger. today's news is very significant. if the president does not sign the bill, it is dead in the water. if it is dead in the water, you will not have any retaliation from europe. that is off the table, too. that will place documents back in the lets fly -- back in the polish zloty. the growth and interest rate differentials are suggesting to be long the zloty against a number of currencies, even the euro. francine: what does that mean? for our global viewers, this goes back on giving the ruling party a lot more control. what happens if it all goes pear shaped? hans: that was obviously the fear on friday. we saw the significant selloff in the polish zloty. come, it would be quite a harsh measure, and you have to that are the other implications for investment into poland when that type of situation would develop. it would

francine: thank you so much, hans redeker.ed everything from soft commodities to some of the futures. as the bank of montreal celebrates its 200th birthday, we will bring you an exclusive interview with the company's ago chief operating officer. he joins us next. ♪ francine: you are watching "bloomberg surveillance." let's get straight to your market check with mark barton. mark: fed officials have been mapping out plans to reduce their balance sheet. they have left out one key detail, the starting points will be released later, so investors will be parsing the minutes to see whether we will have some indication of the starting point. janet yellen told the post meeting press conference in june that the process could begin relatively soon. the bank has left the precise timing and sequencing a mystery. one more forecast this year. balance sheet yellow line. s&p 500 is the white line. this is the wonderful gauge of the day. the boe last raised interest rates. if there's one thing the bank of england cares about now, it is domesti