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CZECHIA: CNB Off'l Presents Forecasts, Tensions In Security Cluster Resurface

CZECHIA
EM BulletBulletEmerging Market NewsCentral and Eastern EuropeCzechia
  • CNB Monetary Department Executive Director Petr Kral said that inflation will run close to the upper limit of the tolerance band at the turn of the year, before gradually decreasing towards the +2.0% Y/Y target, according to the slides from a presentation delivered during the Bank Board's meeting with business representatives published on the central bank's website. Kral said that the slowdown in inflation at the beginning of 2025 will be driven by a sharp reduction in administered price growth from January. Forecasts indicate that interest rates will approach neutral levels around mid-2025 and will remain there over the next year.
  • Denik N reported that tensions between Defence Minister Jana Cernochova and Chief of the General Staff Karl Rehka resurfaced and reached a "critical stage" amid their conflict over the management of special forces.
  • The Finance Ministry announced plans to sell CZK18bn worth of CZGBs in December compared with the CZK20.5bn target set for this month. It will also sell CZK15bn and EUR500mn of T-bills.
  • The International Monetary Fund (IMF) will release the Concluding Statement after a mission to the Czech Republic at 13:00GMT/14:00CET.
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  • CNB Monetary Department Executive Director Petr Kral said that inflation will run close to the upper limit of the tolerance band at the turn of the year, before gradually decreasing towards the +2.0% Y/Y target, according to the slides from a presentation delivered during the Bank Board's meeting with business representatives published on the central bank's website. Kral said that the slowdown in inflation at the beginning of 2025 will be driven by a sharp reduction in administered price growth from January. Forecasts indicate that interest rates will approach neutral levels around mid-2025 and will remain there over the next year.
  • Denik N reported that tensions between Defence Minister Jana Cernochova and Chief of the General Staff Karl Rehka resurfaced and reached a "critical stage" amid their conflict over the management of special forces.
  • The Finance Ministry announced plans to sell CZK18bn worth of CZGBs in December compared with the CZK20.5bn target set for this month. It will also sell CZK15bn and EUR500mn of T-bills.
  • The International Monetary Fund (IMF) will release the Concluding Statement after a mission to the Czech Republic at 13:00GMT/14:00CET.