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CNB Zamrazilova’s Vote Will Strongly Depend On GDP, Wage Data

CZECHIA
  • CNB Vice Governor Zamrazilova said on public radio yesterday that the central bank has ‘all options on the table’ ahead of the Aug 4 meeting (no change, small hike or bigger hike).
  • Zamrazilova added that the Q2 GDP print expected on July 29 will be ‘very important’ for her vote.
  • CNB member Jan Frait recently mentioned that the CNB must show caution with potential further monetary tightening as global economic activity is decelerating significantly.
  • Frait said that he will be deciding between rate stability and a small hike at the next meeting on August 4.
  • Czech government announced that it will raise salaries for police officers and firefighters by 10% as of January 2023.

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