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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CZECHIA
- MPC member Mora told in an interview that the CNB needs to take decisive action against inflation to bring it down.
- Mora also said he was in favor of using just interest rates and not the FX as policy tool, speaking against the bank's sales of euros in the past months to prevent weakening of the CZK.
- The chart below shows that Czech international reserves have fallen from an all-time high of 175bn USD in February to 157bn USD in June.
- MPC member Zamrazilova announced that she might support another rate hike next month if needed to curb surging inflation as rising gas and electricity prices could create more price pressures in the coming months.
- Yesterday, economic data showed that PPI inflation accelerated to 28.5% in June (vs. 28.8% exp.), up from 27.9% the previous month.
- Data on consumer and business confidence surveys will come out next week on July 25.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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