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CPI Inflation Accelerates To 14.2% In April

CZECHIA
  • Inflationary pressures remain elevated in the CEE region, with CPI accelerating to 14.2% in April in Czech Republic, its highest level since December 1993.
  • EURCKZ has been retracing lower this morning (ahead of CPI release) after finding resistance at its 200DMA (25.0330) in recent days.
  • CZK weakened significantly on Friday following the headline that President Zeman is likely to chose CB 'dove' Michl as the new central bank governor (not certain yet).
    • President Miloš Zeman will appoint a new governor of the Czech National Bank on Wednesday according to the Czech Press Office.
    • The new governor will replace Rusnok, whose second term ends in June and he cannot run again.
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