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MNI China Daily Summary: Tuesday, Aug 20

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CNB Is Likely To Hike By 50bps Next Week (Feb 3)

CZECHIA
  • Yesterday, CNB Deputy Governor Nidetzky said in an interview that he expects the policy rate to rise above 4% in February and sees terminal rate at around 5% in Spring.
  • To the exception of the two CNB ‘doves’ – Michl and Dedek – who continue to oppose rate hikes, the rest of the CNB board (5 out of 7) is likely to vote for a ‘large’ hike at the next meeting.
  • Next CNB meeting is scheduled for February 3rd and a 50bps hike seems likely, which would bring the policy rate up to 4.25%.
  • The government is scheduled to discuss a draft agreement for resolving the Turow mine dispute with Poland (BBG).
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