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CNB's Prochazka Backs Sticking With 50bp/Meeting Pace Of Rate Cuts

CZECHIA
  • CNB's Jan Prochazka said that lingering inflation risks and a more hawkish stance of the Fed are preventing the Czech central bank from accelerating the pace of rate cuts. The official suggested that cutting rates at the pace of 50bp/meeting should be maintained at the May meeting and potentially beyond, adding while there is "almost zero likelihood" he will back faster policy loosening, he also doesn't "see any strong signals from the economy that would prompt us to slow the pace."
  • Lawmakers from the main opposition ANO party want to use an extraordinary parliament meeting to discuss the impact of the European Union's migration pact on the Czech Republic. They have referred to the agreement as one of the biggest mistakes of Prime Minister Fiala's government. Pravo reported that ANO will refuse to respect the pact if they take power in 2025.
  • Prime Minister Petr Fiala will today attend an EU Council summit focusing on security and defence.
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