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CZECHIA: CNB's Prochazka Says There Is Room For More Easing

CZECHIA
EM BulletBulletGlobalEmerging Market NewsCentral and Eastern EuropeRegionCzechia
  • CNB's Jan Prochazka told Reuters that the central bank still has room to cut interest rates further amid underwhelming growth at home and in Germany, even as above-target inflation and lingering pressures in the services sector warrant caution. He said that headline inflation would likely exceed the upper end of the tolerance band of +3% Y/Y in December. As a result, policymakers "intend to continue easing," but are "not going to release the brake all the way."
  • Denik N reports that ex-Senator Lukas Wagenknecht and ex-Prague Mayor Zdenek Hrib are the favourites in the race to replace outgoing Pirate Party leader Ivan Bartos. The Pirates have recently left the government after Bartos resigned as party leader and was subsequently sacked by Prime Minister Petr Fiala.
  • The government has clashed with the Constitutional Court over its reduced proposal to raise the salaries of judges by 6.9%, with some experts claiming that it would defy the top court's verdict.
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  • CNB's Jan Prochazka told Reuters that the central bank still has room to cut interest rates further amid underwhelming growth at home and in Germany, even as above-target inflation and lingering pressures in the services sector warrant caution. He said that headline inflation would likely exceed the upper end of the tolerance band of +3% Y/Y in December. As a result, policymakers "intend to continue easing," but are "not going to release the brake all the way."
  • Denik N reports that ex-Senator Lukas Wagenknecht and ex-Prague Mayor Zdenek Hrib are the favourites in the race to replace outgoing Pirate Party leader Ivan Bartos. The Pirates have recently left the government after Bartos resigned as party leader and was subsequently sacked by Prime Minister Petr Fiala.
  • The government has clashed with the Constitutional Court over its reduced proposal to raise the salaries of judges by 6.9%, with some experts claiming that it would defy the top court's verdict.