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CNB's Zamrazilova Says She Mulls Cutting Rates By 25bp Or 50bp Next Week

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  • CNB Deputy Governor Eva Zamrazilova told Ekonom magazine that she is hesitating between voting for a 25bp and for a 50bp rate cut next week amid persistent upside risks to the inflation outlook. The official said that "we'll see what the situation report shows, but it certainly won't be more" than 50bp. She pointed to price pressures in the services sector as a key reason for a cautious approach to policy easing.
  • The government indicated that it will keep cutting the country's fiscal deficit, albeit the pace of the process will moderate ahead of the 2025 parliamentary elections. The Finance Ministry's new budget strategy implied that budget deficit will shrink to 2.3% of GDP this year and to 2.1% in 2025 from 3.7% recorded in 2023.
  • Science, Research and Innovation Minister Helena Langsadlova stepped down on the recommendation of her party TOP 09. Speculation that the "most invisible minister" would be replaced was doing the rounds for some time, as the party cannot be sure of making it past the 5% electoral threshold in next year's elections.
  • As a reminder, the CNB will enter its media blackout period this afternoon (14:00BST/15:00CEST) ahead of next week's rate decision.
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  • CNB Deputy Governor Eva Zamrazilova told Ekonom magazine that she is hesitating between voting for a 25bp and for a 50bp rate cut next week amid persistent upside risks to the inflation outlook. The official said that "we'll see what the situation report shows, but it certainly won't be more" than 50bp. She pointed to price pressures in the services sector as a key reason for a cautious approach to policy easing.
  • The government indicated that it will keep cutting the country's fiscal deficit, albeit the pace of the process will moderate ahead of the 2025 parliamentary elections. The Finance Ministry's new budget strategy implied that budget deficit will shrink to 2.3% of GDP this year and to 2.1% in 2025 from 3.7% recorded in 2023.
  • Science, Research and Innovation Minister Helena Langsadlova stepped down on the recommendation of her party TOP 09. Speculation that the "most invisible minister" would be replaced was doing the rounds for some time, as the party cannot be sure of making it past the 5% electoral threshold in next year's elections.
  • As a reminder, the CNB will enter its media blackout period this afternoon (14:00BST/15:00CEST) ahead of next week's rate decision.