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CZECHIA: CNB Board Will "Carefully" Consider Further Rate Cuts

CZECHIA
EM BulletBulletGlobalEmerging Market NewsCentral and Eastern EuropeRegionCzechia

Highlights from the CNB policy statement:

  • At its meetings ahead, the Bank Board will base its decisions on an assessment of newly available data and their implications for the inflation outlook.
  • A temporary increase in inflation towards the upper boundary of the tolerance band around the target can be expected at the end of this year due to base effects. Inflation will decrease at the start of next year and fluctuate close to the CNB’s 2% target.
  • The Bank Board assessed the risks and uncertainties of the outlook for the fulfilment of the inflation target as broadly balanced overall. Increased wage demands in the private and public sector are an inflationary risk.
  • The Bank Board considers it necessary to persist with tight monetary policy and carefully consider any further rate cuts.

See the full release here.

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Highlights from the CNB policy statement:

  • At its meetings ahead, the Bank Board will base its decisions on an assessment of newly available data and their implications for the inflation outlook.
  • A temporary increase in inflation towards the upper boundary of the tolerance band around the target can be expected at the end of this year due to base effects. Inflation will decrease at the start of next year and fluctuate close to the CNB’s 2% target.
  • The Bank Board assessed the risks and uncertainties of the outlook for the fulfilment of the inflation target as broadly balanced overall. Increased wage demands in the private and public sector are an inflationary risk.
  • The Bank Board considers it necessary to persist with tight monetary policy and carefully consider any further rate cuts.

See the full release here.