CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CNB Sees 'Sharp' Rate Hikes In Late 2021, Early 2022

CZECHIA
  • In its statement following today's meeting, the CNB says that it is ready for more hikes (than previously forecasted) as inflationary pressures are expected to remain elevated in the coming months.
  • Czech inflation is expected to approach 7% this winter, far above the CNB 3% upper tolerance band.
  • Five policymakers (versus 2) voted for a 125bps hike in today's meeting.
  • CNB forecasts 'sharp' hikes in late 2021 and early 2022.
  • Governor Rusnok said during the press conference that it is likely that future hikes will be of smaller magnitude.
  • The central bank also raised its 2022 CPI forecast to 5.6% (vs. 2.8% previously).
  • EURCZK continues to retrace lower following CNB comments, currently testing its 25.33 support; next key level to watch on the downside stands at 25.25. A break below that level would bring us to February 2020 levels.
Link to CNB statement:

https://www.cnb.cz/en/monetary-policy/bank-board-d...

BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.