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CNB member Dedek Remains Opposed To Rate Hikes

CZECHIA
  • Yesterday, CNB Mora said in online debtate that he is currently not seeing a wage-price spiral, but it could be a risk in the future.
  • Mora also mentioned during a recent interview that Czech rates may reach 4.5%/4.75% in Q1 2022; 5% is less likely according to the policymaker.
  • Economic data also showed yesterday that Czech consumer confidence continues to remain at depressed levels despite the drastic recovery in equities; the chart below shows that confidence indicators have been falling in recent months amid rising Covid uncertainty.
  • This morning, CNB member Dedek (‘the other CNB dove’) mentioned in an interview that he remains opposed to rate hikes.
  • Ales Michl is the other member that also continues to oppose rate hikes.

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