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CNB's Frait Joins Others in Talking Against Prospect of 2023 Rate Cuts

CZECHIA
  • CNB deputy governor Frait states that the debate on rate cuts is to come already this Autumn, adding that in light of the latest data, a further hike is not on the agenda for him. On rate cuts, he states that he sees it as more probable that rates will drop at a slower pace than current market pricing (circa 100bps of cuts into year-end).
  • On the currency, Frait sees the CZK remaining relatively strong even if the rate differential disappears. He adds that it is clear that inflation will drop to the low single digits across a relatively short-term horizon.
  • Those Frait comments echoing and reiterating the narrative and view from Prochazka earlier today, both of whom see market pricing (i.e. Pricing for potential rate cuts in 2023) as "too optimistic".
  • Nonetheless, both members seem upbeat on the pullback for inflation into year-end.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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