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CNB's Zamrazilova Says Next Week's Rate Decision Is "50-50", President Speaks In Parliament

CZECHIA
  • The Senate debates President Petr Pavel's candidates to the Constitutional Court today, Zdenek Kuhn and Lucie Dolanska Banyaiova. Two committees endorsed Kuhn's candidacy, but Dolanska Banayaiova only won the support of the Human Rights Committee but missed one vote in the Constitutional and Legal Affairs Committee. The President is expected to present his candidates to the plenary session at 10:30GMT/11:30CET before Senators cast their votes. The process of filling the seats on the Constitutional Court has been fraught with tensions, with Pavel's earlier nominees causing some controversy in the upper house and with the wider public.
  • CNB Deputy Governor Eva Zamrazilova said that inflation is on track to reach the upper end of the central bank's tolerance band, wage-spiral concerns have dissipated, while household consumption is "very subdued". On the other hand, uncertainty around the traditional repricing of goods and services at the turn of the year continues to linger. Against this backdrop, "the December meeting is 50-50 (...) at the moment" and the policymaker said that she doesn't know how she was going to vote. Note that the CNB's media blackout begins today.
  • Czechia's current account data for October will hit the wires at 09:00GMT/10:00CET.
  • Later in the day, Finance Minister Zbynek Stanjura will speak about public finances.
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