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CNB's Dedek Questions Aggressive Rate Hikes

CZECHIA
  • Speaking at a conference in Poland, CNB's Dedek questions whether the Czech National Bank's "aggressive response to CPI" is correct.
  • Not entirely unexpected from Dedek - who has opposed sharp rate hikes in the past - most recently at the May meeting. In May, Dedek and Michl (incoming CNB governor) cited the Ukrainian war as a structural issue for the economy, making it impossible to combat inflation with solely interest rate hikes.

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