CNB's Holub Does Not Rule Out Rate Cuts Later This Year

CNB member Tomáš Holub has spoken in an interview with local newspaper Roklen 24. Below are some highlights:

• “I do not rule out that the reduction could still come in the rest of this year, albeit probably slower than our summer forecast indicated, and probably even slower than the autumn forecast”.
• “From my point of view, it is rather better to gradually prepare the market for the idea of future rate cuts and then proceed cautiously down that path.”
• "Inflation is clearly falling, and the decline is robust. I think we can afford some slight weakening of the exchange rate that has occurred."

The comments are largely in-line with previous communication from Holub - who had previously stated that he cannot rule out a rate cut by the end of 2023. Click here to see the full interview.