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CNB's Zamrazilova Says More Data Needed To Decide On Rate Cuts

CZECHIA
  • CNB Deputy Governor Eva Zamrazilova told Aktualne that Czech policymakers are looking for more signals to make the decision on the optimal timing for reducing interest rates. Zamrazilova noted that the Bank Board considered two risk scenarios at the most recent monetary policy meeting. The scenario which assumed that interest rates would remain unchanged for longer than necessary did not imply any major damage to economic output. The Deputy Governor refused to make any commitments ahead of the December and February meetings, noting that she will keep monitoring incoming data, including Q3 reports on GDP and wages.
  • There may be more CNB speak coming today. Jan Prochazka speaks at an insurance industry conference this morning, while Eva Zamrazilova will participate in a panel discussion at 15:00GMT/16:00CET.
  • A delegation of ANO lawmakers will meet with President Petr Pavel at 10:00GMT/11:00CET to discuss the government's proposed pension system reforms and other economic matters. This comes as the head of state is yet to sign off on the government's fiscal consolidation package.
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