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CNB Holub and Nidetzky Supporting ‘Large’ Hike on June 22

CZECHIA
  • CNB member Nidetzky mentioned in a recent interview that he expects the board to debate hiking the policy rate by at least 75bps to 6.5%, and added that the June hike may help bring Czech CPI back to target in years.
  • CNB Holub also commented recently that he will support another large interest rate hike at the next meeting.
  • Holub added that market bets on 100bps hike or bigger are ‘rational’.
  • All seven policymakers will be present at the next meeting.
  • This morning, economic data showed that PPI inflation accelerated to 27.9% in May (vs. 27.8% exp.), up from 26.6% the previous month.

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