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CNB's Michl Reaffirms Support For Central Bank's Current Stance

CZECHIA
  • Blesk newspaper published an interview with CNB Governor Michl (excerpts were available earlier and flagged by us yesterday), with the official reaffirming his support for a strong exchange rate and stable interest rates. Michl told the newspaper that weakening price pressures, slowing loan growth and cooling household consumption testify to the effectiveness of the actions taken by the CNB.
  • Post-election turbulence in the main opposition ANO party continues, as Ostrava Mayor Tomas Macura gave up his party membership and offered to vacate the mayoral seat, letting his party colleagues decide on his successor. Macura said he could not agree with the direction in which the party was going, echoing rhetoric of several ANO rebels who have recently left the party.
  • Czech data releases move into a lower gear, with nothing of real note coming up through the remainder of the week.

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