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CNB Now Expected To Hike By 75bps on Feb 3

CZECHIA
  • Next CNB meeting is scheduled for February 3rd and market expects a 75bps hike, which would bring the policy rate up to 4.5%.
  • This week, 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.
  • The number of people hospitalized with Covid-19 has stabilized at around two thousand this week, less than a third of early December figures, despite record daily spikes in new infections. (BBG).
  • Next important data to watch will be first estimate of Q4 GDP, expected to decelerate to 2.8% YoY (vs. 3.3% the previous month).

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