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CZECHIA: CNB Expected to Maintain Cut Pace During “Fine-Tuning” Phase of Cycle

CZECHIA
EM BulletBulletGlobalEmerging Market NewsCentral and Eastern EuropeRegionCzechia
  • The CNB is expected to cut interest rates by 25bps, maintaining a steady pace of monetary easing during the “fine-tuning” phase of the cycle, with persistent inflationary pressure in the services sector likely preventing the Board from returning to outsized cuts.
  • The rate decision will be announced at 13:30GMT/14:30CET, with the press conference following at 14:45GMT/15:45CET. See our full preview of the decision, with a summary of sell-side analyst views, here.
  • Czech Republic's retail sales ex-auto rose 5.6% y/y in September versus a revised +5.0% in August, according to the Czech Statistical Office, slightly above estimates of +5.5%.
  • Prime Minister Petr Fiala will attend the European Political Community summit in Budapest today, while the CNB publishes FX reserve data as of end-October and the volume of currency-market transactions for September later this morning (09:00GMT/10:00CET).
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  • The CNB is expected to cut interest rates by 25bps, maintaining a steady pace of monetary easing during the “fine-tuning” phase of the cycle, with persistent inflationary pressure in the services sector likely preventing the Board from returning to outsized cuts.
  • The rate decision will be announced at 13:30GMT/14:30CET, with the press conference following at 14:45GMT/15:45CET. See our full preview of the decision, with a summary of sell-side analyst views, here.
  • Czech Republic's retail sales ex-auto rose 5.6% y/y in September versus a revised +5.0% in August, according to the Czech Statistical Office, slightly above estimates of +5.5%.
  • Prime Minister Petr Fiala will attend the European Political Community summit in Budapest today, while the CNB publishes FX reserve data as of end-October and the volume of currency-market transactions for September later this morning (09:00GMT/10:00CET).