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CNB Frait Will Support Either Rate Stability or Small Hike At Next Meeting

CZECHIA
  • CNB member Jan Frait recently mentioned that the CNB must show caution with potential further monetary tightening as global economic activity is decelerating significantly.
  • Frait said that he will be deciding between rate stability and a small hike at the next meeting on August 4.
  • German Foreign Minister Annalena Baerbock is scheduled to meet Czech counterpart Jan Lipavsky in Prague to discuss issues including the two country’s relations and the war in Ukraine (BBG).
  • Yesterday, economic data showed that Czech consumer confidence fell to new lows in July, and is currently pricing in a significant deceleration in the economic activity.
  • Next data to watch will be Q2 GDP print, expected to fall by 0.3% QoQ.

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