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CNB Cut Repo Rate 50bps to 5.75%

CZECHIA

CZECH CENTRAL BANK CUTS KEY RATE BY 50BPS TO 5.75%; EST. 5.75% (BBG0

  • Little reaction in EURCZK to the rate decision, which was in-line with broad sell-side consensus (though dovish risks had been flagged).
  • Topside focus falls on the Feb 15 high of 25.519 while the 50-DMA, at 25.115, marks the support level to watch. That average provided firm support on Mar 18 as well as back in January.
  • A reminder that Governor Ales Michl’s press conference is scheduled for 14:45GMT/15:45CET. This is when the policy statement and vote split will be released.

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