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Central Bank Publishes Introductory Part Of Monetary Policy Report

CNB

The Czech National Bank released the introductory part of its latest Monetary Policy Report, which includes commentary on yesterday's monetary policy decision, the current outlook and risks.

  • "At its August meeting, the Bank Board kept the two-week repo rate unchanged at 7%. This monetary policy stance will ensure that inflation returns to the 2% target. The decline in inflation is broadly in line with the CNB’s previous outlooks."
  • "The downward trend in annual inflation will temporarily halt in the autumn, but only as a result of the statistical effect of the energy savings tariff applied at the end of last year. After it fades out, inflation will fall sharply to close to 2% at the start of next year."
  • "Consistent with the baseline scenario of the Monetary Department’s forecast is therefore a decline in market interest rates over the entire outlook. However, the Bank Board assessed the risks of the forecast and the uncertainties of the outlook as being significant and tilted to the upside."
  • Click here to access the release.
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