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CNB Nidetzky Sees CNB Policy Rate Above 3% at Year-End

CZECHIA
  • Yesterday, CNB policymaker Tomas Nidetzky mentioned in an interview that the CNB is likely to continue raising interest rates to curb inflationary pressures, which are expected to remain elevated until January 2022. Nidetzky expects the policy rate to be above 3% at the turn of the year.
  • The Czech government is considering several options of stricter rules for people who aren't vaccinated against Covid-19, ranging from harsh steps to only a mild tightening of measures, according to outgoing Prime Minister Andrej Babis (BBG).
  • This morning, economic data showed that PPI inflation accelerated more than expected to 11.6% YoY in October (vs. 10.3% exp.), up from 9.9% the previous month.
  • There are no important economic data coming out this week.

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